Notes to SEFA
Accounting Policies: A.Basis of Accounting
This schedule is prepared on the accrual basis of accounting.
B.Basis of Presentation
The accompanying Schedule of Federal Awards (the Schedule) includes the federal grant activity of the Authority under programs of the federal government for the year ended September 30, 2024. The information in this schedule is presented in accordance with the requirements of OMB Uniform Guidance, Title 2 CFR, Part 200, "Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards". Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position or cash flows of the Authority.
De Minimis Rate Used: N
Rate Explanation: C. Other Matters - Indirect Costs
The Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.