Notes to SEFA
Title: Note 3 - Public Assistance Grant Program
Accounting Policies: The accompanying schedule of expenditures of federal awards and schedule of expenditures of state awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the Texas Comptroller of Public Accounts, State of Texas Grant Management Standards, which includes the State of Texas Single Audit Circular
(TxGMS). The information in these schedules is presented in accordance with the requirements of the Uniform Guidance and the TxGMS. Therefore, some amounts presented in these schedules may differ from amounts
presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Public Assistance Grant Program expenditures of $1,591,051 included on the schedule of expenditures of federal awards were incurred in prior years.