Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Pass-through entity identifying numbers are presented where available.
Of the federal expenditures presented in the schedule, the Bureau provided no federal awards to subrecipients.
The Bureau did not receive any non-cash assistance from federal awards for the year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The schedule of expenditures of federal and state awards (the “Schedule”) includes the grant activity of Fort Worth Convention and Visitors Bureau (the “Bureau”) under programs of the federal government for the year ended September 30, 2023. 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 (Uniform Guidance) – Sub part E, Cost Principles, (the “Uniform Guidance”).
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Pass-through entity identifying numbers are presented where available.
Of the federal expenditures presented in the schedule, the Bureau provided no federal awards to subrecipients.
The Bureau did not receive any non-cash assistance from federal awards for the year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Pass-through entity identifying numbers are presented where available.
Of the federal expenditures presented in the schedule, the Bureau provided no federal awards to subrecipients.
The Bureau did not receive any non-cash assistance from federal awards for the year ended September 30, 2023.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Pass-through entity identifying numbers are presented where available.
Of the federal expenditures presented in the schedule, the Bureau provided no federal awards to subrecipients.
The Bureau did not receive any non-cash assistance from federal awards for the year ended September 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Bureau has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.