Notes to SEFA
The Riverfront Development Corporation of Delaware is the reporting entity for financial reporting purposes as defined in Note A to the Riverfront Development Corporation of Delaware’s financial statements.
The accompanying schedules of expenditure of federal awards (the “Schedule”) includes the federal award activity of the Riverfront Development Corporation of Delaware under programs of the federal government for the year ended June 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 Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the Riverfront Development Corporation of Delaware, it is not intended to and does not present the financial position, changes in net position or cash flows of the Riverfront Development Corporation of Delaware.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, where in certain types of expenditures are not allowable or are limited as to reimbursement. The Riverfront Development Corporation of Delaware has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance.