Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Authority under 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Authority.
The Authority provided no federal awards to subrecipients during the fiscal year ending December 31, 2025.
The Authority received no federal awards to subrecipients during the fiscal year ended December 31, 2025. The Authority had no loans outstanding which were guaranteed, and therefore, qualify as part of the federal financial assistance. The Authority maintains insurance coverage through the State Aide Insurance program. Settled claims have not exceeded the above commercial insurance coverage limits over the past three years.