Notes to SEFA
Title: Note 1 - General
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 - Summary of Significant Accounting Policies to the basic financial statements of the Group. Federal and state financial assistance revenues are recognized in the basic financial statements as support and revenues.
De Minimis Rate Used: N
Rate Explanation: They do not have indirect costs charged to the program.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal financial assistance programs of South Fayette Conservation Group (“the Group”). The federal financial assistance presented in these schedules was all received from pass-through governmental agencies.
Title: Note 2 - Basis of Accounting and Relationship to the Basic Financial Statements:
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 - Summary of Significant Accounting Policies to the basic financial statements of the Group. Federal and state financial assistance revenues are recognized in the basic financial statements as support and revenues.
De Minimis Rate Used: N
Rate Explanation: They do not have indirect costs charged to the program.
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 - Summary of Significant Accounting Policies to the basic financial statements of the Group. Federal and state financial assistance revenues are recognized in the basic financial statements as support and revenues.