Notes to SEFA
Accounting Policies: NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Authority.
All federal financial assistance received by the reporting entity directly from federal agencies, as well as federal
financial assistance passed through other government agencies, is included on the schedule.
The accompanying schedule of expenditures of federal awards is presented using 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or
used in the preparation of, the basic financial statements. Federal financial assistance provided to sub recipients
is treated as an expenditure when it is paid to the sub-recipient. The Authority passed through $0 to sub-recipients
for the year then ended.
The Authority uses the de minimis indirect cost rate of 10%.
De Minimis Rate Used: Y
Rate Explanation: DE MINIMIS COST RATE WAS USED.