Notes to SEFA
Title: Matching Costs
Accounting Policies: The accompanying schedule has been prepared in conformity with accounting principles generally accepted in the United States of America and amounts presented are derived from the Authority's general ledger.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent that such costs are included in the Federal financial reports used as the source for the data presented. The de minimis election allows the Authority to allocate 10% of indirect costs to grants with periods ending on or before September 30, 2024 and 15% of indirect costs to grants with periods after September 30, 2024. The Authority does not use the de minimis election.
Matching costs such as, the Authority’s share of certain program costs, are not included in the Schedule.