Notes to SEFA
Title: Note 1
Accounting Policies: See the Form tab
De Minimis Rate Used: N
Rate Explanation: Not applicable to these grants
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Association under programs of the federal government for the year ended June 30, 2022. 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 the Association, it is not intended and does not represent the financial position, change in net assets or cash flows of the Association.
Title: Note 2
Accounting Policies: See the Form tab
De Minimis Rate Used: N
Rate Explanation: Not applicable to these grants
Expenditures reported on the Schedules 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.
Title: Note 3
Accounting Policies: See the Form tab
De Minimis Rate Used: N
Rate Explanation: Not applicable to these grants
The Association has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
Title: Note 4
Accounting Policies: See the Form tab
De Minimis Rate Used: N
Rate Explanation: Not applicable to these grants
Pass-through entity identifying numbers are presented when available