Notes to SEFA
Accounting Policies: Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) . Because the Schedule presents only a selected portion of the operations of Southwest Wetlands Intrepretive Association, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Southwest Wetlands Intrepretive Association. Note 2 - Summary of Significant Accounting Policies - Expeditures 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. Note 3 - Loans Outstanding - The Organization did not have any loan balance outstanding as of December 31, 2023. Note 4 - Cluster - The Organization did not have any federal clusters for the year ended December 31, 2023. Note 5 - Subrecipients - The Organization did not have any subrecipients for the year ended December 31, 2023. Note 6 - Exempt Status - Southwest Wetlands Intrepretive Association is exempt from income taxation under IRC 501c3.
De Minimis Rate Used: N
Rate Explanation: N/A