Notes to SEFA
The accompanying schedule of expenditures of federal awards ("the Schedule") includes the federal grant activity of the Birmingham Jefferson Civic Center Authority ("the Authority") and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of OMB Uniform Guidance, "Audits of States, Local Governments, and Non-Profit Organizations."
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The Authority elected to use the negotiated indirect cost rate approved by the cognizant federal agency.