Notes to SEFA
Accounting Policies: The accompanying
S chedule of E xpenditures of F ederal A wards ( Schedule "") includes the grant activity of
River Valley Resources, Inc. RVR "") under programs of the federal government for the year ended June 30, 2023 and is
presented on the accrual basis of accounting. The information in this Schedule is presented in accordance with
Title 2 U.S. Code of Federal Regulations CFR 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 RVR, it is not intended to and does not present the financial position, changes in net
position, or cash flows of RVR.
De Minimis Rate Used: N
Rate Explanation: Pursuant to
a cost allocation plan , the indirect expenses are allocated based on hours charged to each program . RVR has
not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.