Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the SEFA are reported on the cash basis of accounting and, accordingly,represent the total cash expended for the program. The SEFA does not include transactions that mightbe included using the accrual basis of accounting as contemplated by generally accepted accountingprinciples.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NOTE 1 BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the federal awardactivity for the Schoharie County Soil & Water Conservation District (the District) under programs ofthe federal government for the year ended December 31, 2022. The information in the SEFA ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR),Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards(Uniform Guidance). Because the SEFA presents only a selected portion of the operations of theDistrict, it is not intended to, and does not, present the financial position, changes in net assets, or cashflows of the District.
Title: NOTE4 SUBRECIPIENTS
Accounting Policies: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the SEFA are reported on the cash basis of accounting and, accordingly,represent the total cash expended for the program. The SEFA does not include transactions that mightbe included using the accrual basis of accounting as contemplated by generally accepted accountingprinciples.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NOTE 4 SUBRECIPIENTSNo awards were passed through to subrecipients.