Notes to SEFA
This Schedule is prepared on the same full-accrual basis of accounting as the Authority’s financial statements and in accordance with the requirements contained in Uniform Guidance.
The authority has not elected to use the 15-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenditures represent only the federal award portion of the program costs. Entire program costs, including the Authority’s portion, are more than shown. Such 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.
Internal Make Ready Labor costs are recorded once all Work Orders are closed and reconciled. Therefore, some of these costs incurred during 2024 are included in the 2025 Schedule, and some costs incurred during 2025 will be included in the 2026 Schedule.