Notes to SEFA
Title: Note 2 - Loans Outstanding
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Governmental Department of the Rappahannock Tribe (the “Tribe”) and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Tribe did not elect to use the 10 percent de minimis indirect cost rate as allowed under the OMB Uniform Guidance.
The Tribe had no outstanding federal loan balances at December 31, 2023.
Title: Note 3 -Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Governmental Department of the Rappahannock Tribe (the “Tribe”) and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Tribe did not elect to use the 10 percent de minimis indirect cost rate as allowed under the OMB Uniform Guidance.
The Tribe provided no federal award dollars to subrecipients.
Title: Note 4 - Reconciliation of Reported Expenditures to Financial Statement Totals
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Governmental Department of the Rappahannock Tribe (the “Tribe”) and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Tribe did not elect to use the 10 percent de minimis indirect cost rate as allowed under the OMB Uniform Guidance.
The following is a reconciliation of total federal expenditures reported on the Schedule of Expenditures of Federal Awards (SEFA) to the total revenues reported on the Tribe’s statement of revenues, expenditures, and changes in fund balance- governmental funds for the year ending December 31, 2023:
Per Financials: Federal Grants Revenue $3,579,740
Per SEFA: Reported Federal Expenditures $3,579,7440