Notes to SEFA
The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state award activity of the Agency under programs of the federal and state government for the year ended June 30, 2024. The information in the Schedule is presented in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Agency, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Agency.
Of the federal expenditures presented in the Schedule, the Agency did not provide federal awards to subrecipients.
Expenditures reported on the Schedule are reported on the modified 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 to reimbursement.
The Agency has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Nonmonetary assistance is reported in the Schedule at the fair market value of commodities disbursed.