Notes to SEFA
Title: NOTE A - ACCOUNTING BASIS
Accounting Policies: The accounting policies of SCCOG conform to accounting principles generally accepted in
the United States of America as applicable to state and local governments.
De Minimis Rate Used: N
Rate Explanation: Southeastern Connecticut Council of Governments has not elected to use the 10% de
Minimis indirect cost rate.
BASIC FINANCIAL STATEMENTS
The accounting policies of SCCOG conform to accounting principles generally accepted in
the United States of America as applicable to state and local governments.
Title: NOTE A - ACCOUNTING BASIS
Accounting Policies: The accounting policies of SCCOG conform to accounting principles generally accepted in
the United States of America as applicable to state and local governments.
De Minimis Rate Used: N
Rate Explanation: Southeastern Connecticut Council of Governments has not elected to use the 10% de
Minimis indirect cost rate.
SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
The accompanying schedule of expenditures of federal awards has been prepared on the
accrual basis consistent with the preparation of the basic financial statements. Information
included in the schedule of expenditures of federal awards is presented in accordance with
the requirements Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance).
For cost reimbursement awards, revenues are recognized to the extent of expenditures.
Expenditures have been recognized to the extent the related obligation was incurred within
the applicable grant period and liquidated within 90 days after the end of the grant period.
For performance-based awards, revenues are recognized to the extent of performance
achieved during the grant period.
Southeastern Connecticut Council of Governments has not elected to use the 10% de
Minimis indirect cost rate.