Notes to SEFA
Title: NOTE 3 – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. 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 may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: RCCAA has elected not to use the 10% de minimus indirect cost rate allowed under Section 200.414 of the Uniform Guidance.
The accompanying Schedule includes the federal award activity of RCCAA under programs of the federal government for the year ended December 31, 2023. The information on the Schedule is prepared 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 operations of RCCAA, it is not intended to and does not present the financial position, changes in financial position, or cash flows of RCCAA.
Title: NOTE 4 – MATCHING REQUIREMENTS
Accounting Policies: Expenditures reported in the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. 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 may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: RCCAA has elected not to use the 10% de minimus indirect cost rate allowed under Section 200.414 of the Uniform Guidance.
Certain Federal programs require RCCAA to contribute non‐Federal funds (matching funds) to support the Federally‐funded programs. RCCAA has met its matching requirements. The Schedule does not include the expenditure of non‐Federal matching fund.