Notes to SEFA
Title: Note 1 –Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, as applicable, wherein certain types of expenditures are not allowable or are limited as to reimbusement. Pass-through entity identifing numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% deminimis indirect cost rate as allowed under Uniform Guidance. The Organization uses negotiated indirect costs for federal awards as approved.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Indian Pueblo Cultural Center (the Organization) under programs of the federal government for year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of the Organization.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, as applicable, wherein certain types of expenditures are not allowable or are limited as to reimbusement. Pass-through entity identifing numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10% deminimis indirect cost rate as allowed under Uniform Guidance. The Organization uses negotiated indirect costs for federal awards as approved.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, as applicable, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
The Organization has elected to not use the 10% de minimis indirect cost rate as allowed under Uniform Guidance. The Organization uses negotiated indirect costs for federal awards as approved.