Notes to SEFA
Title: NOTE A – 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 wherein certain types of expenditures
may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Corporation 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 Cuyahoga County Land Reutilization Corporation (the Corporation) under programs of the federal
government for the year ended December 31, 2023. The information on this Schedule is prepared 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 Corporation, it is
not intended to and does not present the financial position or changes in net position of the Corporation.
Title: NOTE B – 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 wherein certain types of expenditures
may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance
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 wherein certain types of expenditures
may or may not be allowable or may be limited as to reimbursement.
Title: NOTE C – INDIRECT COST RATE
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 wherein certain types of expenditures
may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance
The Corporation has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance