Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity ofthe Authority and is presented on the accrual basis of accounting. The information in this scheduleis presented in accordance with the requirements of 2 CFR part 200, OMBs Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, someamounts presented in this schedule may differ from amounts presented in, or used in the preparationof, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.