Notes to SEFA
Title: Non-cash assistance
Accounting Policies: 1) Basis of presentationThe accompanying schedule of expenditures of federal awards includes the federal grant activity of NMFMA and is presented on the accrual basis of accounting. 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).
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Non-cash assistance - none
Title: Federal loans or loan guarantees
Accounting Policies: 1) Basis of presentationThe accompanying schedule of expenditures of federal awards includes the federal grant activity of NMFMA and is presented on the accrual basis of accounting. 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).
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Federal loans or loan guarantees - none
Title: Subrecipients
Accounting Policies: 1) Basis of presentationThe accompanying schedule of expenditures of federal awards includes the federal grant activity of NMFMA and is presented on the accrual basis of accounting. 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).
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The New Mexico Farmers' Market Association did not pass through federal funds to subrecipients for the year ended December 31, 2022.
Title: Assistance Listing Numbers/ Pass-Through Grantor Numbers
Accounting Policies: 1) Basis of presentationThe accompanying schedule of expenditures of federal awards includes the federal grant activity of NMFMA and is presented on the accrual basis of accounting. 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).
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Federal granting agencies or their pass-through agencies are responsible for providing New Mexico Farmers' Market Association with the Assistance Listing Numbers for each grant or contract. In cases where a federal granting agency did not provide the Assistance Listing Numbers, other identifying numbers are presented on the schedule of expenditures of federal awards, if available.