Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of theMunicipality of Rainelle, West Virginia (the Municipality) under programs of the federal government for theyear ended June 30, 2022. The information in this Schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of the Municipality, it is not intended to and does notpresent the financial position, changes in net position, or cash flows of the Municipality. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance wherein certain types ofexpenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.