Notes to SEFA
Title: Note 1 – Basis of Accounting
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Council’s financial statements. The Council uses the cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Council has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
This Schedule is prepared on the same basis of accounting as the Council’s financial statements. The Council uses the cash basis of accounting.
Title: Note 2 – Federal Indirect Cost Rate
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Council’s financial statements. The Council uses the cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Council has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Council has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount expended includes $51,753.59 claimed as an indirect cost recovery using an approved indirect cost rate of 47 percent.
The amount expended includes $226.89 claimed as an indirect cost recovery using an approved indirect cost rate of 48 percent.
The amount expended includes $214,083.34 claimed as an indirect cost recovery using an approved indirect cost rate of 49 percent.
The amount expended includes $122.17 claimed as an indirect cost recovery using an approved indirect cost rate of 50 percent.
The amount expended includes $288,870.53 claimed as an indirect cost recovery using an approved indirect cost rate of 54 percent.
Title: Note 3– Program Costs
Accounting Policies: This Schedule is prepared on the same basis of accounting as the Council’s financial statements. The Council uses the cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Council has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenditures represent only the federal award portion of the program costs. Entire program costs, including the Council’s portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.