Notes to SEFA
Accounting Policies: The above schedule of expenditures of federal awards includes the federal grant activity of the Council and is presented on the cash basis. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented on this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
NOTE 3 – SUBRECIPIENTS
There were no federal funds expended to subrecipients in the year ended June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: Keystone elected not use the minimus inderect cost rate of 10%.