Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting, which is described in Note 1 to the Authoritys basic financial statements. Such expenditures are recognized following the cost principles contained in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or cost principles contained in Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursements. 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.