Notes to SEFA
Accounting Policies: THE ACCOMPANYING SHCEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES THE FEDERAL GRANT ACTIVITY OF THE HOLY CROSS TRIBAL COUNCIL (HCTC) UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED SEPTEMBER 30, 2023. THE INFORMATION IN THIS SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF THE UNIFORM GUIDANCE. BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE OPERATIONS OF HCTC, IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS, OR CASH FLOWS OF HCTC. EXPNEDITURES IN THIS SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES OF THE UNIFORM GUIDANCE WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT. PASS THROUGH ENTITY IDENTIFYING NUMBERS ARE PRESENTED WHERE AVAILABLE.
De Minimis Rate Used: N
Rate Explanation: HCTC HAS ELECTED NOT TO USE THE 10% DE MINIMUS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.