Notes to SEFA
Accounting Policies: Note A Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal grant activity of Substance Abuse Council of Indian River County, Inc. (SAC) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.Note B ContingencyAmounts received or receivable from grantor agencies are subject to audit and adjustment by those agencies. Any disallowed claims, including amounts already received, might constitute a liability of SAC for the return of those funds.Note C Indirect Cost RateSAC has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.Note D SubrecipientsSAC has not provided any funds to subrecipients. Note E Other DisclosuresThe accompanying schedule of expenditures of federal awards includes federal expenditures awarded by more than one pass-through agency or under more than one contract.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.