Notes to SEFA
Title: NOTE 1: REPORTING ENTITY
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Commission did not use the 10% de minimis indirect cost rate.
The Susquehanna River Basin Commission (the “Commission”), as the reporting entity for financial reporting purposes, is defined in Note 1 to the Commission‘s financial statements.
Title: NOTE 2: BASIS OF ACCOUNTING
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Commission did not use the 10% de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the Commission’s financial statements. The Commission did not use the 10% de minimis indirect cost rate.
Title: NOTE 3: MAJOR PROGRAMS
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Commission did not use the 10% de minimis indirect cost rate.
The Commission had two federal programs tested as major for the year ended June 30, 2024. These programs were Abandoned Mine Land Reclamation Grants, Assistance Listing 15.252, and Water Pollution Control State, Interstate, and Tribal Program Support, Assistance Listing 66.419. These programs represent 66% of the total federal awards expended.