Notes to SEFA
Title: NOTE 2.MATCHING FUNDS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes federal award activity of the Authority under programs of the federal government for the year ended June 30, 2022. The information in this 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 Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
In accordance with the terms of the grants, the Authority has expended cash and in-kind matching contributions during the year ended June 30, 2022, for the following programs: See table on PDF page 46
Title: NOTE 3.SUBRECIPIENTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes federal award activity of the Authority under programs of the federal government for the year ended June 30, 2022. The information in this 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 Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Authority passed through federal funding from the U. S. Department of Defense, Procurement Technical Assistance program to the following subrecipients for the year ended June 30, 2022: See table on PDF page 47