Notes to SEFA
Title: Basis of Presentation
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contrained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use 10% de minimis indirect cost rate because they only request direct costs for reimbursement.
The accompanying shcedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Mount Rogers Planning District Commission under the programs of the federal government for the year ended June 30, 2023. The information in the Schedule is presented in accordance with the requirements of the 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 the Mount Rogers Planning District Commission, it is not inteded to and does not present the financial position, changes in net position, or cash flows of the Mount Rogers Planning District Commission.
Title: Subrecipients
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contrained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use 10% de minimis indirect cost rate because they only request direct costs for reimbursement.
The Commission did not have any subrecipients for the year ended June 30, 2023.
Title: Relationship to the Financial Statements
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contrained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. (2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use 10% de minimis indirect cost rate because they only request direct costs for reimbursement.
Federal revenues per Exhibit 10 of the financial statements $37,643,159