Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrural 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, Cost Principles, and audit requirements for Federal Awards., within certain types of expenditures are not allowable or are as limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in the prior year.
De Minimis Rate Used: N
Rate Explanation: The Authority is not reimbursed for indirect costs under its federal awards and does not use the 10 percent de minimis indirect cost allowed under the Uniform Guidance or any other indirect cost rate.