Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures re not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years, if any.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10% deminimis indirect cost rate allowed under the Uniform Guidance.
The Schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Agency under programs of the federal government. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Par 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 Agency it is not intended to and does not present the financial position or changes in net position of the Agency.
Title: Note 3 - Subrecipient
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures re not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years, if any.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10% deminimis indirect cost rate allowed under the Uniform Guidance.
The Agency did not provide federal funds to any subrecipients during the year ended June 30, 2022.