Notes to SEFA
Title: 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Southeast Missouri Regional Planning and Economic Development Commission under programs of the federal government for the year ended September 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations 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 Southeast Missouri Regional Planning and Economic Development Commission, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Southeast Missouri Regional Planning and Economic Development Commission.
Title: Subrecipients
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The National Clean Diesel Emissions Reduction Program (Federal Assistance Listing # 66.039) was
passed through to subrecipients in the amount of $28,750. The Homeland Security Grant Program (Federal Assistance Listing # 97.067) was passed through to
subrecipients in the amount of $182,932.
Title: Non-Cash Programs
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Commission did not receive any non-cash revenues during the year ended September 30, 2023.
Title: Other
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Commission did not have federal insurance in effecr during the year or have federal loan guarantees outstanding at year end.
Title: Donated Personal Protective Equipment (Unaudited)
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Commission did not receive any donated personal protective equipment during the year.