Notes to SEFA
Title: Matching Costs
Accounting Policies: The Schedule is presented on the accrual basis of accounting and the amounts presented are derived from the Authoritys general ledger. For programs with funding ceilings and caps, federal expenditures are only recorded and presented in the Schedule up to such amounts.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent such costs are included in the Federal financial reports used as the source for the data presented. The Authority does use the 10% de minimis rule.
Matching costs, i.e., the Authoritys share of certain program costs, are not included in the Schedule.
Title: Subrecipients
Accounting Policies: The Schedule is presented on the accrual basis of accounting and the amounts presented are derived from the Authoritys general ledger. For programs with funding ceilings and caps, federal expenditures are only recorded and presented in the Schedule up to such amounts.
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent such costs are included in the Federal financial reports used as the source for the data presented. The Authority does use the 10% de minimis rule.
The Authority did not provide any funding to subrecipients during the year ended March 31, 2022.