Notes to SEFA
All expenditures included in the schedule of expenditures of federal awards are presented on the basis that expenditures are reported to the respective federal grantor agencies. Accordingly, expenditures are recorded when the federal obligation is determined.
The schedule of expenditures of federal awards reflects federal expenditures for all individual grants which were active during the fiscal year.
The Authority has not elected to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance. For the year ended December 31, 2025, there were no indirect costs included in the schedule of expenditures of federal awards.