Notes to SEFA
Title: 1
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes all federal grant activity of Columbia Land Trust under programs of the federal government for the 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 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 Columbia Land Trust, it is not intended to and does not present the financial position, changes in net assets or cash flows of Columbia Land Trust. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Columbia Land Trust has an agreed upon indirect rate with the US Department of Interior and has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
BASIS OF PRESENTATION
Title: 2
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes all federal grant activity of Columbia Land Trust under programs of the federal government for the 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 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 Columbia Land Trust, it is not intended to and does not present the financial position, changes in net assets or cash flows of Columbia Land Trust. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Columbia Land Trust has an agreed upon indirect rate with the US Department of Interior and has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
EXPENDITURES