Notes to SEFA
Title: Basis of Presentation
Accounting Policies: SIGNIFICANT ACCOUNTING POLICIES
De Minimis Rate Used: Y
Rate Explanation: elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule ofexpenditures offederal awards (the Schedule) includes the federal award activity of South Ogden Conservation District under the programs ofthe federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirements ofthe Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administraave Requirements) Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion ofthe operations ofSouth Ogden Conservation District it is not intended to and does not present the financial position, changes in net position, or cash flows ofthe Entity.
Title: Accrual Basis
Accounting Policies: SIGNIFICANT ACCOUNTING POLICIES
De Minimis Rate Used: Y
Rate Explanation: elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein ceitain types of expenditures are not allowable or are limited as to reimbursement.
Title: 10 percent
Accounting Policies: SIGNIFICANT ACCOUNTING POLICIES
De Minimis Rate Used: Y
Rate Explanation: elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
South Ogden Conservation District has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Noncash
Accounting Policies: SIGNIFICANT ACCOUNTING POLICIES
De Minimis Rate Used: Y
Rate Explanation: elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Noncash Federal Awards - Noncash federal awards, ifapplicable, represent commodities consumed during the year, expressed at market value. The State estimates the per unit fair market value ofthese commodities. Noncash federal financial assistance is calculated by multiplying the per unit fair market value by the net commodities consumed.