Notes to SEFA
Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance, wherein
certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: TMACOG has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance. TMACOG has an approved Indirect Cost Plan with the Ohio Department of
Transportation for the fiscal year ended June 30, 2023, and the Indirect Cost Rate was 86.58%.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal award activity of the Toledo Metropolitan Area Council of Governments (TMACOG’s)
under programs of the federal government for the year ended June 30, 2023. The information
on this Schedule is prepared 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). Because the Schedule
presents only a selected portion of the operations of TMACOG, it is not intended to and does
not present the financial position, changes in net position, or cash flows of TMACOG.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance, wherein
certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: TMACOG has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance. TMACOG has an approved Indirect Cost Plan with the Ohio Department of
Transportation for the fiscal year ended June 30, 2023, and the Indirect Cost Rate was 86.58%.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance, wherein
certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
Title: NOTE C – INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance, wherein
certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: TMACOG has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance. TMACOG has an approved Indirect Cost Plan with the Ohio Department of
Transportation for the fiscal year ended June 30, 2023, and the Indirect Cost Rate was 86.58%.
TMACOG has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance. TMACOG has an approved Indirect Cost Plan with the Ohio Department of
Transportation for the fiscal year ended June 30, 2023, and the Indirect Cost Rate was 86.58%.
Title: NOTE D- MATCHING REQUIREMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance, wherein
certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: TMACOG has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance. TMACOG has an approved Indirect Cost Plan with the Ohio Department of
Transportation for the fiscal year ended June 30, 2023, and the Indirect Cost Rate was 86.58%.
Certain Federal programs require TMACOG to contribute non-Federal funds (matching funds) to
support the Federally-funded programs. TMACOG has met its matching requirements. The
Schedule does not include the expenditure of non-Federal matching funds.