Notes to SEFA
Accounting Policies: Note 1. Basis of Presentation-The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Chickaloon Village Traditional Council under programs of the federal government for the year ended September 30, 2022. The information in this 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 the operations of Chickaloon Village Traditional Council, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Chickaloon Village Traditional Council. Note 2. Summary of Significant Accounting Policies-Expenditures reported on the Schedule are reported on the modified 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. Negative amounts shown on the Schedule represent adjustments the normal course of business to amounts reported as expenditure in prior years.
De Minimis Rate Used: N
Rate Explanation: Chickaloon Village Traditional Council has not elected to use the 10-percent de minimis indirect cost rate for grants, allowed under the Uniform Guidance.