Notes to SEFA
Accounting Policies: Note 1 Basis of Presentation The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of theCorporation under programs of the federal government for the year ended December 31, 2022. The information in this Scheduleis presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presentsonly a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position,changes in net assets, or cash flows of the Corporation. Note 2 Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or arelimited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normalcourse of business to amounts reported as expenditures in prior years. The Corporation has elected to use the 10-percent deminimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.