Notes to SEFA
Title: Purpose of the Schedule
Accounting Policies: The schedule is prepared using the same accounting policies and basis of accounting as the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: BRAG elected not use the minimis cost rate
The Schedule of Expenditures of Federal Awards (the Schedule) is a supplementary schedule to the basic financial statements. The Schedule is provided in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: Significant Accounting Policies
Accounting Policies: The schedule is prepared using the same accounting policies and basis of accounting as the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: BRAG elected not use the minimis cost rate
Basis of Accounting
The information in the Schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200. The Schedule is prepared using the same accounting policies and basis of accounting as the basic financial statements.
Assistance Listing Numbers
Title 2 U.S. Code of Federal Regulations Part 200 requires the Schedule to show the total expenditures for each of BRAG’s federal financial assistance programs as identified by Assistance Listing number. The Assistance Listing is a government-wide compendium of individual federal programs which assigns a five-digit program identification Assistance Listing number to each federal program.
Major Programs
Title 2 U.S. Code of Federal Regulations Part 200 establishes the levels of expenditures or expenses and other criteria to be used in defining major programs. Major programs have been noted in the Schedule of Findings and Questioned Costs in accordance with those definitions.
Indirect Costs
BRAG has not elected to use the 10% de minimis indirect cost rate.