Notes to SEFA
Title: Non-cash assistance, federal insurance, loans and loan guarantees
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Rocky Mountain Youth Corps under programs of the federal government for the year ending December 31, 2022. The information in the schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures in 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 are 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.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Rocky Mountain Youth Corps did not receive any federal non-cash assistance, insurance, loans, or loanguarantees.