Notes to SEFA
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the
Rural Economic Assistance League, Inc. and is presented on the modified accrual basis of accounting. The
information in this schedule is presented in accordance with the requirements of the Uniform Guidance
and State of Texas Grant Management Standards. Therefore, some amounts presented in this schedule
may differ from amounts presented in or used in the preparation of the basic financial statements.
Sub-recipients
During the year ended December 31, 2023, Rural Economic Assistance League, Inc. had no subrecipients.
Federal Loans and Loan Guarantees
During the year ended December 31, 2023, Rural Economic Assistance League, Inc. had no federally
insurance and loan guarantees.
Federally Funded Insurance
During the year ended December 31, 2023, Rural Economic Assistance League, Inc. had no federally
funded insurance.
Noncash Awards
During the year ended December 31, 2023, Rural Economic Assistance League, Inc. did not have any
federal awards in the form of noncash assistance.
De Minimis Rate Used: Y
Rate Explanation: Indirect Cost Rate
The Uniform Guidance allows an organization to elect a 10% de minimus indirect cost rate. For the year
ended December 31, 2023, Rural Economic Assistance League, Inc. elected to use this rate.
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