Notes to SEFA
Title: Note 1 Basis of Presentation
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: The Council is not eligible to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance as they have previously applied for and been approved for an indirect cost rate of 13.80%.
The accompanying schedule of expenditures of federal and non-federal awards (the Schedule) inlcudes the federal and non federal award activity of the Council under programs of the federal and statement government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Council, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Council.
Title: Note 2 Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: The Council is not eligible to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance as they have previously applied for and been approved for an indirect cost rate of 13.80%.
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 and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
Title: Note 3 Reconciliation to Financial Statements
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: The Council is not eligible to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance as they have previously applied for and been approved for an indirect cost rate of 13.80%.
Awards expended during the year ended September 30, 2022 included
Title: Note 4 Indirect Cost Rate
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: The Council is not eligible to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance as they have previously applied for and been approved for an indirect cost rate of 13.80%.
The Council is not eligible to use the 10 de minimus indirect cost rate as allowed under the Uniform Guidance as they have previously applied for and been approved for an indirect cost rate of 13.80%. 13.80%.
Title: Note 5 Awards Passed through to Subrecipients
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: The Council is not eligible to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance as they have previously applied for and been approved for an indirect cost rate of 13.80%.
The Council had no awards which it passed through to subrecipients.