Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Capital Improvement Board of Managers of Marion County, a component unit of the ConsolidatedCity of Indianapolis-Marion County, (the CIB) for the year ended December 31, 2022. The information in the 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 operations of the CIB, it is not intended to and does not present the financial position, statements of net position, changes in net position or cash flows of the CIB. Expenditures reported on the Schedule were incurred on or after March 3, 2021 through December 31, 2022. The award agreement was executed on October 21, 2022. The CIB was permitted by the award agreement and program regulations to use costs incurred during the period beginning on March 3, 2021 and ending on December 31, 2024. Such expenditures are recognized following the Uniform Guidance, or when not applicable the specific federal award agreement, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Subrecipients: There were no amounts provided to subrecipients during 2022.
De Minimis Rate Used: N
Rate Explanation: The CIB has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.