Notes to SEFA
Title: Non-Cash and Federal Insurance
Accounting Policies: General:The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federalaward programs of the Authority. The Authoritys reporting entity is defined in Note 1 to theAuthoritys financial statements.Basis of Presentation:The accompanying schedule of expenditures of federal awards (the "Schedule") includes thefederal award activity of the Authority under programs of the federal government for the yearended December 31, 2022. The information in this Schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).Because the Schedule presents only a selected portion of the operations of the Authority, it is notintended to and does not present the financial position, changes in net position, or cash flows ofthe Authority.Basis of Accounting:Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards, wherein certain types of expenditures are not allowable or arelimited as to reimbursement. Negative amounts shown on the Schedule represent adjustments orcredits made in the normal course of business to amounts reported as expenditures in prior years.De Minimis Cost Rate:The Authority has elected to use the 10-percent de minimis indirect cost rate allowed under theUniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no non-cash awards or Federal Insurance maintained in the current year.