Notes to SEFA
Accounting Policies: NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe accompanying Schedule of Expenditures of Federal Awards includes the federal grant activityof the Authority and is presented on the full accrual basis of accounting. The information in thisschedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of the Authority, it is not intended to and does not present thefinancial position, changes in net position, or cash flows of the Authority.The Authority has elected not to use the 10-percent de minims indirect cost rate as allowed underthe Uniform Guidance.NOTE B SUBRECIPIENTSThe Authority provided no federal awards to subrecipients during the year ended December 31,2022.NOTE C DISCLOSURE OF OTHER FORMS OF ASSISTANCEThe Authority received no federal awards of non-monetary assistance that are required to bedisclosed for the year ended December 31, 2022.The Authority had no loans, loan guarantees, or federally restricted endowment funds required tobe disclosed for the year ended December 31, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.