Notes to SEFA
The accompanying schedule of federal expenditures includes the activity of all federally assisted programs of the Authority and is presented on the accrual basis of accounting. All federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on this schedule.
The Authority did not elect to use the 10% de minimis indirect cost rate.
At June 30, 2025, the Authority had no outstanding loan balances requiring continuing disclosure.