Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Modified accrual
De Minimis Rate Used: N
Rate Explanation: Elected not to use the 10% de minimis rate
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Harris County Sports & Convention Corporation (“HCSCC”) under programs of the federal government for the year ended February 28, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of HCSCC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of HCSCC.
Title: Summary of Significant Accounting Policies
Accounting Policies: Modified accrual
De Minimis Rate Used: N
Rate Explanation: Elected not to use the 10% de minimis rate
Modified Accrual
Title: Indirect Cost Rate
Accounting Policies: Modified accrual
De Minimis Rate Used: N
Rate Explanation: Elected not to use the 10% de minimis rate
HCSCC elected not to use de minimis indirect cost rate