Audit 355164

Title: Basis of Accounting Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all Federal financial assistance programs of the Port of Corpus Christi Authority of Nueces County, Texas (Authority). The Authority’s reporting entity is defined in the Notes to the Authority’s financial statements. All Federal financial assistance received directly from Federal agencies and passed through other government agencies is included on the schedule. De Minimis Rate Used: N Rate Explanation: The Authority elected not to use the 10% de-minimis indirect cost rate of the year ended December 31, 2024. The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in the Notes to the Authority’s financial statements.

Title: Subrecipients Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all Federal financial assistance programs of the Port of Corpus Christi Authority of Nueces County, Texas (Authority). The Authority’s reporting entity is defined in the Notes to the Authority’s financial statements. All Federal financial assistance received directly from Federal agencies and passed through other government agencies is included on the schedule. De Minimis Rate Used: N Rate Explanation: The Authority elected not to use the 10% de-minimis indirect cost rate of the year ended December 31, 2024. The Authority did not pass through Federal assistance to any subrecipient during the year ended December 31, 2024.