Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of the Authority under programs of the Federal government for the fiscal year ended March 31, 2025. The information in the 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).
The accompanying Schedule is presented on the accrual basis of accounting. The amounts reported in this Schedule are recognized in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
The Authority did not receive any non-cash federal assistance for the year ended March 31, 2025
Of the federal expenditures presented in this schedule, no expenditures were used to provide federal awards to sub-recipients.
At March 31, 2025, the Authority is not the guarantor of any loans outstanding.
The Authority has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.