Notes to SEFA
Accounting Policies: Note 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (schedule) includes the federal grantactivity of the Agency under programs of the federal government for the year ended June 30, 2022. Theinformation in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selectedportion of the operations of the Agency, it is not intended to and does not present the financial position,changes in net position or cash flows of the entity.Note 2. Summary of Significant Accounting PoliciesExpenditures reported on the schedule are reported on the modified accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement. Revenue from federalawards is recognized when the Agency has done everything necessary to establish its right to therevenue. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.