Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditure in the Schedule are reported on the accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The auditee did not used the de minimis cost rate
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of the Commission and is presented on the modified accrual basis of accounting. The information in this schedule is presented 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. The Commission did not use the ten percent de minimis indirect cost rate.
Title: SUBRECIPIENTS
Accounting Policies: Expenditure in the Schedule are reported on the accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The auditee did not used the de minimis cost rate
No federal awards were provided to subrecipients.
Title: COMPUTATION OF FEDERAL EXPENDITURES
Accounting Policies: Expenditure in the Schedule are reported on the accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The auditee did not used the de minimis cost rate
Federal Expenditure for the Economic Adjustment Assistance Program were calculated in accordance with the U.S. Office of Management and Budget July 2023.