Notes to SEFA
Title: NOTE 2: AMOUNT RECEIVED FOR EXPENDITURES IN A PRIOR YEAR
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards has been prepared on the modified accrual basis of accounting. Federal expenditures consist of federal financial assistance and local expenditures consist of all local expenditures incurred in the operations of the program, which would include state and parish portions. The Parish has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Revenue was received from the following grant programs for amounts expended in prior years. These amounts received have not been reported on a previous Schedule of Federal Expenditures.
Title: NOTE 3: FEDERALLY FUNDED INSURANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards has been prepared on the modified accrual basis of accounting. Federal expenditures consist of federal financial assistance and local expenditures consist of all local expenditures incurred in the operations of the program, which would include state and parish portions. The Parish has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Parish has no federally funded insurance.
Title: NOTE 4: NON-CASH ASSISTANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards has been prepared on the modified accrual basis of accounting. Federal expenditures consist of federal financial assistance and local expenditures consist of all local expenditures incurred in the operations of the program, which would include state and parish portions. The Parish has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Parish did not receive any federal non-cash assistance for the year ended December 31, 2023.
Title: NOTE 5: STATE LOAN AND LOAN GUARANTEE PROGRAM
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards has been prepared on the modified accrual basis of accounting. Federal expenditures consist of federal financial assistance and local expenditures consist of all local expenditures incurred in the operations of the program, which would include state and parish portions. The Parish has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The outstanding balances for State Loan and Loan Guarantee Programs as of December 31, 2023 are as follows: