Notes to SEFA
Title: NEGATIVE AMOUNTS
Accounting Policies: The Schedule of Expenditures of Federal and State Awards presents the activity of all applicable federal and state awards programs of Brazos Valley Council of Governments. The Council's reporting entity is defined in Note 1 of the basic financial statements. Federal and state awards received directly from federal and state agencies, as well as federal awards passed through other government agencies, are included on the Schedule of Expenditures of Federal and State Awards. The Council, for purposes of the supplementary schedule of expenditures of federal and state awards, includes all the funds of the primary government as defined by the Governmental Accounting Standards Board Statement No. 14, The Financial Reporting Entity. It does not include amounts related to Brazos Valley Community Action Programs, which also receives federal financial assistance but separately satisfies the audit requirements of OMB Uniform Guidance and the State of Texas Uniform Grant Management Standards. The Schedule of Expenditures of Federal and State Awards is presented using the modified accrual basis of accounting. The modified accrual basis of accounting is described in Note 1 of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Due to a revision in the allocation of certain costs, the grantor has retroactively allocated certain grantexpenditures. As a result of this, the affected grants reflect a negative balance on the currentSchedule of Expenditures of Federal and State Awards.