Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified–accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. CFR Part 200, Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Village did not elect to use the 10% de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Gulkana Village Council under programs of the federal government for the year ended September 30, 2023. The information in the Schedule is presented in accordance with the audit requirements of Title 2 U.S. CFR Part 200, Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Village, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Village.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified–accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. CFR Part 200, Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Village did not elect to use the 10% de minimis indirect cost rate.
Expenditures reported on the Schedule are reported on the modified–accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. CFR Part 200, Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: MATCHING REQUIREMENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified–accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. CFR Part 200, Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Village did not elect to use the 10% de minimis indirect cost rate.
Certain Federal programs require the Government to contribute non–Federal funds (matching funds) to support the Federally–funded programs. The Government has met its matching requirements. The Schedule does not include the expenditure of non–Federal matching funds.
Title: FEDERAL INDIRECT RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified–accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. CFR Part 200, Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Village did not elect to use the 10% de minimis indirect cost rate.
The Village did not elect to use the 10% de minimis indirect cost rate.