Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amount reported as expenditures in prior years. Valdez Native Tribe has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Valdez Native Tribe has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Valdez Native Tribe 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 Valdez Native Tribe, it is not intended to and does not present the financial position of Valdez Native Tribe.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amount reported as expenditures in prior years. Valdez Native Tribe has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Valdez Native Tribe has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amount reported as expenditures in prior years. Valdez Native Tribe has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 3. Passed Through Awards
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amount reported as expenditures in prior years. Valdez Native Tribe has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Valdez Native Tribe has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
No amounts were passed through to subrecipients.
Title: Note 4. Refundable Advances by Assistance Listing number for U.S. Department of Health and Human Services Grants:
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amount reported as expenditures in prior years. Valdez Native Tribe has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Valdez Native Tribe has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Assistance
Listing Refundable
Grant Title Number Advance
U.S. Department of Health and Human Services:
Passed through Chugachmiut:
Older Americans – Caregivers and Elder Nutrition 93.047 $ 23,403
Local Health Initiatives, Alcohol Prevention, and Tribal Self Governance 93.210 268,162
Total U.S. Department of Health and Human Services 291,565
Total other federal and local grants 369,981
Total refundable advances on Statements of Financial Position $ 661,546
Title: Note 5. Reconciliation of Grants by Assistance Listing Number
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amount reported as expenditures in prior years. Valdez Native Tribe has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Valdez Native Tribe has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The following provides a reconciliation of Assistance Listing Number 93.047, Older Americans, Title VI:
Passed through Chugachmiut $ 39,082
Direct 9,667
Total ALN #93.047 $ 48,749