Notes to SEFA
Title: (1) Schedule of Expenditures of Federal Awards
Accounting Policies: Basis of Presentation
The Schedule of Expenditures of Federal Awards (Schedule) has been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. The Schedule includes the federal grant activity of SUL and is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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.
Sub-recipients
SUL did not make any disbursements of federal funds to sub-recipients during the fiscal year 2023.
Noncash Assistance
SUL did not receive any non-cash federal assistance during fiscal year 2023.
Insurance
SUL had no federal insurance in place during the fiscal year 2023.
Loans
SUL did not have any federal loans or loan guarantees outstanding as of June 30, 2023.
De Minimis Cost Rate
SUL did not elect to use the 10% de minimis cost rate during fiscal year 2023.
De Minimis Rate Used: Y
Rate Explanation: Entity did not have a federally approved indirect cost rate.
Basis of Presentation
The Schedule of Expenditures of Federal Awards (Schedule) has been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. The Schedule includes the federal grant activity of GWTCDP and is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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.
Sub-recipients
GWTCDP did not make any disbursements of federal funds to sub-recipients during the fiscal year 2023.
Noncash Assistance
GWTCDP did not receive any non-cash federal assistance during fiscal year 2023.
Insurance
GWTCDP had no federal insurance in place during the fiscal year 2023.
Loans
GWTCDP did not have any federal loans or loan guarantees outstanding as of June 30, 2023.
De Minimis Cost Rate
GWTCDP did not elect to use the 10% de minimis cost rate during fiscal year 2023.