Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of the Central Louisiana Regional Port (Port) under programs of the federal government for the year ended April 30, 2025. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Port, it is not intended to and does not present the financial position or changes in net assets of the Port.
Expenditures reported on the accompanying Schedule of Expenditures of Federal Awards are presented using the modified accrual basis of accounting, which is described in Note 1 to the Port’s financial statements. Such expenditures are recognized following the principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Port has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Delta Regional Authority (DRA) awarded funds to the Port under CFDA 90.200 to support economic development and infrastructure projects within the Port. These funds were provided to reimburse eligible expenditures incurred by the Port related to approved DRA projects