Notes to SEFA
Title: 1.Basis of Presentation
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: Kenergy Corp. does not use de minimus
The accompanying Schedule of Expenditure of Federal Awards includes the federal grant activity of Kenergy Corp. under programs of the federal government for the year ended December 31, 2023. The information in this chedule is presented in accordance with the requirements of TItle 2 U.S. Cod of Federal Regulations Part 200, Uniform Adminstrative Requirement, Cost Princples and Audit Requirements for Federal Awards (Uniform Guidance. Because the Schedule presents only a selected portion of the operations of Kenergy Corp., it is not intended to be and does not present the financial position, net margin, or cash flows of Kenergy Corp.
Title: 2. Summary of Significant Accounting Policies
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: Kenergy Corp. does not use de minimus
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
Title: 3. Indirect Cost Rate
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: Kenergy Corp. does not use de minimus
Kenergy Corp. has elected not to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.