Notes to SEFA
Title: Significant Accounting Policies - Basis of Presentation
Accounting Policies: (1) Significant Accounting Policies - See Form for Detail
De Minimis Rate Used: N
Rate Explanation: See Notes to the SEFA in the financial statements.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Coastal Regional Commission (the Commission) under programs of the federal government for the fiscal year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Commission, it is not intended to and does not present the financial position, changes in net position or cash flows of Coastal Regional Commission.
Title: Significant Accounting Policies - Measurement Focus
Accounting Policies: (1) Significant Accounting Policies - See Form for Detail
De Minimis Rate Used: N
Rate Explanation: See Notes to the SEFA in the financial statements.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-Through identifying numbers are presented where available. The Commission is not using the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance.
Title: Program Income
Accounting Policies: (1) Significant Accounting Policies - See Form for Detail
De Minimis Rate Used: N
Rate Explanation: See Notes to the SEFA in the financial statements.
See the Notes to the SEFA for the Program Income by grant balances.
Title: Coastal Regional Commission Matching Funds
Accounting Policies: (1) Significant Accounting Policies - See Form for Detail
De Minimis Rate Used: N
Rate Explanation: See Notes to the SEFA in the financial statements.
See the Notes to the SEFA for the Matching Funds by grant.
Title: Sub-Recipient Matching Contributions
Accounting Policies: (1) Significant Accounting Policies - See Form for Detail
De Minimis Rate Used: N
Rate Explanation: See Notes to the SEFA in the financial statements.
See the Notes to the SEFA for the Sub-recipient Matching Contributions by grant.