Notes to SEFA
Accounting Policies: GENERAL - The accompanying Schedule of Federal Awards presents the activity of all federal award programs of America's Central Port District (District). The District's reporting entity is defined in Note 1 to the District's financial statements. Federal awards passed through other government agencies are included on the schedule. BASIS OF ACCOUNTING - The accompanying Schedule of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the District's financial statements. NONCASH ASSISTANCE, FEDERAL INSURANCE AND LOANS/LOAN GUARANTEES - The District did not receive any noncash assistance, federal guaranteed loans or federal insurance for any of its programs for the year ended June 30, 2024. SUBRECIPIENT MONITORING - The District did not provide any funds to subrecipients for federal funds. INDIRECT COST RATE - The District elected to use the de minimis indirect cost rate of 10%.
De Minimis Rate Used: Y
Rate Explanation: The District elected to use the de minimis indirect cost rate of 10%.