Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of the
Southern Sandoval County Arroyo Flood Control Authority and is presented on the modified accrual basis of
accounting, which is the same basis as was used to prepare the fund financial statements. The information in this
Schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule
may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: Auditee used their approved rate.