Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) is a supplementary schedule to the Port Angeles Waterfront Center’s (the Center’s) financial statements and is presented for purposes of additional analysis. Because the Schedule presents only a selected portion of the activities of the Center, it does not present the financial position, changes in financial position, or the revenues and expenditures of the Center
The reporting entity is described in Note B to the Center’s financial statements. The Schedule includes all federal programs administered by the Center for the year ended December 31, 2024.
This schedule is prepared on the same basis of accounting as the Center’s financial statements. The Center uses the accrual basis of accounting for financial reporting purposes.
The Center did not use the 10% de-minimis cost rate.
The information in the Schedule is presented in accordance with Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards 2 CFR 200 (Uniform Guidance).