Notes to SEFA
Title: OUTSTANDING LOAN BALANCES
Accounting Policies: The accompanying schedule of federal expenditures includes the activity of all federally assisted programs of the Chickahominy Indian Tribe (the "Tribe") and is presented on the cash basis of accounting, as described in Note 2 to the Tribe's financial statement. All federal awards received directly from fedreal agencies, as well as federal awards passed through other governmental agencies, are included on this schedule.
De Minimis Rate Used: Y
Rate Explanation: The entity elected to use the 10% de minimis indirect cost rate.
At December 31, 2022, the Tribe had no outstanding loan balances requiring continuing disclosure.
Title: RECONCILIATION TO THE FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of federal expenditures includes the activity of all federally assisted programs of the Chickahominy Indian Tribe (the "Tribe") and is presented on the cash basis of accounting, as described in Note 2 to the Tribe's financial statement. All federal awards received directly from fedreal agencies, as well as federal awards passed through other governmental agencies, are included on this schedule.
De Minimis Rate Used: Y
Rate Explanation: The entity elected to use the 10% de minimis indirect cost rate.
Due to the application of the de minimis indirect cost rate, the expenditures for certain grants reported on the Schedue of Expenditures of Federal Awards will be higher than disbursements reported on the Statement of Cash Receipts and Disbursements.