Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of East Rio Arriba Soil and Water Conservation District (The District) and is presented on the full accrual basis of accounting, which is the same basis as was used to prepare the financial statements. The information in this schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% indirect cost rate.