Notes to SEFA
Title: BASIS OF ACCOUNTING
Accounting Policies: All expenditures included in the schedule of expenditures of federal awards are presented on
the basis that expenditures are reported to the respective federal grantor agencies.
Accordingly, expenditures are recorded when the federal obligation is determined.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance. For the year ended March 31, 2023, there were no indirect costs included
in the schedule of expenditures of federal awards.
All expenditures included in the schedule of expenditures of federal awards are presented on
the basis that expenditures are reported to the respective federal grantor agencies.
Accordingly, expenditures are recorded when the federal obligation is determined.
Title: FEDERAL EXPENDITURES
Accounting Policies: All expenditures included in the schedule of expenditures of federal awards are presented on
the basis that expenditures are reported to the respective federal grantor agencies.
Accordingly, expenditures are recorded when the federal obligation is determined.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance. For the year ended March 31, 2023, there were no indirect costs included
in the schedule of expenditures of federal awards.
The schedule of expenditures of federal awards reflects federal expenditures for all individual
grants which were active during the fiscal year.