Notes to SEFA
Title: Note 3: Sub-Recipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principle contained in 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: The Teton Regional Land Trust, Inc. used the 10% deminimus election on the NAWCA and BLM grants. TRLT has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance for all other awards.
The Teton Regional Land Trust, Inc. does not have any sub-recipients of federal awards.
Title: Note 4: General
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principle contained in 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: The Teton Regional Land Trust, Inc. used the 10% deminimus election on the NAWCA and BLM grants. TRLT has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance for all other awards.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Teton Regional Land Trust, Inc. under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with 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 Teton Regional Land Trust, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flows of the Teton Regional Land Trust, Inc.