Title: Note 1
Accounting Policies: In the Statement of Net Position and Statement of Activities, and the proprietary fund financial statements, the accrual basis of accounting is applied. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic asset is used. Revenues, expenses, gains, losses, assets, and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place.
De Minimis Rate Used: N
Rate Explanation: The de minimis indirect cost method was not utilized.
This schedule has been prepared on the GAAP basis of accounting consistent with the definition of federal awards expended as defined in the Uniform Guidance. Items with an asterisk (*) are major programs. The deminimis indirect cost method was not utilized.
Title: Note 2
Accounting Policies: In the Statement of Net Position and Statement of Activities, and the proprietary fund financial statements, the accrual basis of accounting is applied. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic asset is used. Revenues, expenses, gains, losses, assets, and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place.
De Minimis Rate Used: N
Rate Explanation: The de minimis indirect cost method was not utilized.
There were no loan/loan guarantees related to the schedule of expenditures of federal awards.
Title: Note 3
Accounting Policies: In the Statement of Net Position and Statement of Activities, and the proprietary fund financial statements, the accrual basis of accounting is applied. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic asset is used. Revenues, expenses, gains, losses, assets, and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place.
De Minimis Rate Used: N
Rate Explanation: The de minimis indirect cost method was not utilized.
The Wholesale Value of Commodities in the amount of $23,523 is noncash financial assistance (this includes DoD FFV Program). This non-monetary assistance is reported in the schedule at the fair market value of the commodities received and disbursed.
Title: Note 4
Accounting Policies: In the Statement of Net Position and Statement of Activities, and the proprietary fund financial statements, the accrual basis of accounting is applied. Under the accrual basis of accounting, revenues are recognized when earned and expenses are recorded when the liability is incurred or economic asset is used. Revenues, expenses, gains, losses, assets, and liabilities resulting from exchange and exchange-like transactions are recognized when the exchange takes place.
De Minimis Rate Used: N
Rate Explanation: The de minimis indirect cost method was not utilized.
No amounts were passed to subrecipients.