Notes to SEFA
Accounting Policies: This Schedule of Expenditures of Federal Awards and State Financial Assistance (the Schedule) includes the Federal and State grant activity of the Florida Tourism Industry Marketing Corporation, Inc. d/b/a VISIT FLORIDA (the Corporation) for the year ended June 30, 2023, and is presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and Chapter 10.650, Rules of the Auditor General.
Amounts included on this Schedule include only the expenditures of Federal Awards and State Financial Assistance received directly from an awarding agency. The amounts on the accompanying Statements of Revenues, Expenses, and Changes in Fund Net Position (and related notes) include additional expenditures associated with other resources committed by the Corporation for purposes of fulfilling its primary grant program.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to use the 10 percent di minimis cost rate allowed under the Uniform Guidance for federal awards.