Notes to SEFA
Accounting Policies: NOTE A- BASIS OF PRESENTATION$$7,838,668119,85216,8857,975,405The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of theAuthority under programs of the federal government for the year ended September 30, 2022. The information in thisSchedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Becausethe Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not presentthe financial position, changes in net position, or cash flows of the Authority.NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are notallowable or are limited as to reimbursement. The Authority has elected not to use the 10-percent de minimis indirect costrate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.