Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, certain expenditures are recorded when the federal obligation is determined.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10% de minimis indirect cost rate allowed under Uniform Guidance. For the year ended December 31, 2024, there were no indirect costs included in the schedule of expenditures of federal awards.
The schedule of expenditures of federal awards reflects federal expenditures for all individual grants which were active during the fiscal year.
Title: BASIS OF ACCOUNTING
Accounting Policies: All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, certain expenditures are recorded when the federal obligation is determined.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10% de minimis indirect cost rate allowed under Uniform Guidance. For the year ended December 31, 2024, there were no indirect costs included in the schedule of expenditures of federal awards.
All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, expenditures are recorded when the federal obligation is determined.
Title: INDIRECT COST RATE
Accounting Policies: All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, certain expenditures are recorded when the federal obligation is determined.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10% de minimis indirect cost rate allowed under Uniform Guidance. For the year ended December 31, 2024, there were no indirect costs included in the schedule of expenditures of federal awards.
The Authority has not elected to use the 10% de minimis indirect cost rate allowed under Uniform Guidance. For the year ended December 31, 2024, there were no indirect costs included in the schedule of expenditures of federal awards.