Notes to SEFA
Title: Note 2
Accounting Policies: The Schedule of Expenditures of Federal Awards and State Financial Assistance (the Schedule) includes Federal and State grant activity of the Florida Tourism Industry Marketing Corporation, Inc. d/b/a VISIT FLORIDA (the Corporation) for the year ended June 30, 2022, and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards and Chapter 10.650, Rules of the Auditor General.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts included on this Schedule include only the expenditures of Federal Awards and State Financial Assistance received directly from an awarding agency. The amounts on the accompanying Statements of Revenues, Expenses, and Changes in Fund Net Position (and related notes) include additional expenditures associated with other resources committed by the Corporation for purposes of fulfilling its primary grant program.