Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards and other financial assistance (the “Schedule”) includes the Agency’s federal and state grant activities under programs of the federal and state governments 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 Agency’s operations, it is not intended to, and does not, present the Agency’s financial position, its changes in net assets, or its cash flows.
De Minimis Rate Used: N
Rate Explanation: N/A
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, when applicable, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Agency has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards and other financial assistance (the “Schedule”) includes the Agency’s federal and state grant activities under programs of the federal and state governments 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 Agency’s operations, it is not intended to, and does not, present the Agency’s financial position, its changes in net assets, or its cash flows.
De Minimis Rate Used: N
Rate Explanation: N/A
No federal grant awards were passed through to subrecipients during the year ended December 31, 2023.