Notes to SEFA
Title: Subrecipients
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of the Authority and is prepared on the full accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10-percent de minimus indirect cost rate as allowed under Uniform Guidance.
The Authority provided no federal awards to sub recipients during the fiscal year ended September 30, 2024.
Title: Disclosure of Other Forms of Assistance
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of the Authority and is prepared on the full accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10-percent de minimus indirect cost rate as allowed under Uniform Guidance.
The Authority received no federal awards of non-monetary assistance required to be disclosed for the year ended September 30, 2024. • The Authority had no loans, loan guarantees, or federally restricted endowment funds required to be disclosed for the year ended September 30, 2024.
• The Authority maintains the following limits of insurance as of the year ended September 30, 2024.
Property
Liability
Commercial Auto
Worker Compensation
Public Officer's Liability
Fidelity Bond
Computer Equipment and Media
$111,914,162
$ 2,000,000
$ 700,000
Statutory
$ 1,000,000
$ 250,000
$ 500,000
Settled claims have not exceeded the above commercial limits over the past three years.