Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) presents the activity ofall state awards programs of the Authority for the year ended September 30, 2022. The Authoritys basis of accounting is further described in Note 1 of the accompanying basic financialstatements. The accompanying Schedule is presented using the accrual basis of accounting. Under theaccrual basis, expenditures are recognized in the period liabilities are incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.