Notes to SEFA
Accounting Policies: Note 1 Basis of Presentation The 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 December 31, 2022. The information in this Schedule ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presentsonly a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changesin net position, or cash flows of the Authority. Note 2 Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or arelimited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normalcourse of business to amounts reported as expenditures in prior years. The Authority has elected to use the 10-percent de minimisindirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.