Notes to SEFA
Title: Basis of Presentation
Accounting Policies: see notes attached
De Minimis Rate Used: N
Rate Explanation: Direct costs were used for the grants
The Schedule of Federal and State Awards includes the federal and state grant activity of the Agency and is presented on the accrual basis of accounting. The amounts represent expenses incurred by the Agency during the fiscal year ended June 30, 2023. Such expenses are recognized following the principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement. The information is this Schedule is presented in accordance with the requirements of Titles 2 U.S. Code of Federal regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awardas (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Agency, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Agency.
Title: Summary of Significant Accounting Principles
Accounting Policies: see notes attached
De Minimis Rate Used: N
Rate Explanation: Direct costs were used for the grants
Expenditures reported on 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 allowed or are limited as to reimbursement.
Title: Summary of Significant Accounting Principles
Accounting Policies: see notes attached
De Minimis Rate Used: N
Rate Explanation: Direct costs were used for the grants
The Agency has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.