Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: Y
Rate Explanation: 10% BECAUSE THEY DID NOT HAVE A FEDERALLY NEGOTIATED INDIRECT RATE DURING FISCAL YEAR 2023
The accompanying schedule of federal awards includes the federal grant activity of FWCA under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of operations of FWCA, it is not intended to and does not present the financial position, changes in net assets or cash flows of FWCA.