Audit 52809

Title: Public Assistance Grant Program Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and Schedule of Expenditures ofState Awards are presented on the cash basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Costs Principles, and Audit Requirements for FederalAwards (Uniform Guidance) and the Texas Comptroller of Public Accounts, State of TexasUniform Grant Management Standards, which includes the State of Texas Single Audit Circular(UGMS). The information in this schedule is presented in accordance with the requirements ofthe Uniform Guidance and UGMS. Therefore, some amounts presented in this schedule maydiffer from amounts presented in or used in the preparation of the basic financial statements. De Minimis Rate Used: N Rate Explanation: The Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Public Assistance Grant Program expenditures of $1,424,612 included on the schedule ofexpenditures of federal awards were incurred in prior years.