Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of the Port of Seattle (the “Port”) for programs of the federal government for the year ended December 31, 2025. The information in this 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 Port, it is not intended and does not present the net position, changes in net position, or cash flows of the Port.
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. The Port has not elected to use the de minimis indirect cost rate allowed under the Uniform Guidance and the accompanying Schedule does not include any indirect costs that were claimed for reimbursement using an indirect cost rate or cost allocation plan.
The amounts shown as current year expenditures represent only the federal award portion of the program costs. Entire program costs, including the Port of Seattle portion, are more than the amount shown. All program expenditures are program costs, including the Port of Seattle portion, are more than the amount shown. All program expenditures are recognized following 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
See SEFA Schedule