Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, adjusted for the
requirements described in Note 1. 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. Central Coast Energy Services, Inc. has elected not to use the 10 percent de
minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Central Coast Energy Services, Inc. has elected not to use the 10 percent de
minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant
activity of Central Coast Energy Services, Inc. under programs of the federal government for the year
ended December 31, 2023. The information in this Schedule is presented in accordance with the
requirements of 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 Central Coast Energy Services, Inc., it is not
intended to and does not present the financial position, change in net assets, functional expenses, or
cash flows of Central Coast Energy Services, Inc.
Title: Note 3 - Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, adjusted for the
requirements described in Note 1. 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. Central Coast Energy Services, Inc. has elected not to use the 10 percent de
minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Central Coast Energy Services, Inc. has elected not to use the 10 percent de
minimis indirect cost rate allowed under the Uniform Guidance.
Central Coast Energy Services, Inc. did not provide any federal awards to subrecipients during the year
ended December 31, 2023.