Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award
activity of LCDP under programs of the federal government for the year ended December 31, 2023.
The information in the SEFA 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 SEFA presents only a selected
portion of the operations of LCDP, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of LCDP.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. LCDP has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE 3 – SUBRECIPIENT PASS THROUGH
No entities received pass through federal awards from LCDP during 2023.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. LCDP has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award
activity of LCDP under programs of the federal government for the year ended December 31, 2023.
The information in the SEFA 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 SEFA presents only a selected
portion of the operations of LCDP, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of LCDP.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award
activity of LCDP under programs of the federal government for the year ended December 31, 2023.
The information in the SEFA 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 SEFA presents only a selected
portion of the operations of LCDP, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of LCDP.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. LCDP has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE 3 – SUBRECIPIENT PASS THROUGH
No entities received pass through federal awards from LCDP during 2023.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. LCDP has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. LCDP has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE 3 – SUBRECIPIENT PASS THROUGH
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award
activity of LCDP under programs of the federal government for the year ended December 31, 2023.
The information in the SEFA 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 SEFA presents only a selected
portion of the operations of LCDP, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of LCDP.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. LCDP has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE 3 – SUBRECIPIENT PASS THROUGH
No entities received pass through federal awards from LCDP during 2023.
De Minimis Rate Used: N
Rate Explanation: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. LCDP has elected
not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
No entities received pass through federal awards from LCDP during 2023.