Notes to SEFA
Accounting Policies: Note 1 The accompanying Schedule of Expenditures of Federal Awards includes the Federal grantactivity of the Conservancy, and is presented on the accrual basis of accounting. Theinformation in this schedule is presented in accordance with requirements of Title 2 U.S. Codeof Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles andAudit Requirements for Federal Awards ("Uniform Guidance"). Therefore, some amountspresented in this schedule may differ from amounts presented in, or used in, the basic financialstatements.Note 2 Management has reported that expenditures in the Schedule of Expenditures of Federal Awardsare equal to those amounts reported in the annual or final cost reports. Unallowed differences, ifany, have been disclosed to the auditor.Note 3 The financial reports, including claims for advances and reimbursements, and amounts claimedor used for matching, are timely, complete, accurate and contain information that is supported bythe books and records from which the basic financial statements have been prepared.Note 4 The Conservancy did not use the 10% de minimis indirect cost rate allowed under the UniformGuidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.