Notes to SEFA
Title: Basis of Accounting
Accounting Policies: The expenditures reported on the schedule of expenditures of federal awards have been recorded on ther accrual basis of accounting which recognizes expenditures when incurred, in accordance with U.S. generally accepted accounting principles. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the ten percent deminimis indirect cost rate allowed under the Uniform Guidance
The expenditures reported on the schedule of expenditures of federal awards have been recorded on the accrual basis of accounting which recognizes expenditures when incurred, in accordance with U.S. generally accepted accounting principles. Such expendiures are recognized following the cost principles contained in th eUnifrom Guidance.
Title: Deminimis Indirect Cost Rate
Accounting Policies: The expenditures reported on the schedule of expenditures of federal awards have been recorded on ther accrual basis of accounting which recognizes expenditures when incurred, in accordance with U.S. generally accepted accounting principles. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the ten percent deminimis indirect cost rate allowed under the Uniform Guidance
The Authority has elected not to use the ten percent deminimis indirect cost rate allowed under the Unifrom Guidance.