Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures arenot allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The NWSA has not elected to use the 10% di minimus indirect cost rate allowed under the Uniform Guidance
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity ofThe Northwest Seaport Alliance (the NWSA) under programs of the federal government for the year endedDecember 31, 2022. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirementsfor Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations ofthe NWSA, it is not intended to, and does not, present the financial position, changes in net position or cash flows ofthe NWSA.