Notes to SEFA
Title: GENERAL
Accounting Policies: 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 SEFA schedule presents only a selected portion of the operations of the South Texas Development Council, is not intended to and does not present the financial position, changes in net assets, or cash flows of the South Texas Development Council.
De Minimis Rate Used: N
Rate Explanation: The South Texas Development Council has elected not to use the 10% de minims indirect cost rate as allowed in the Uniform Guidance. The cost rate is negotiated and approved by the Department of Interior.
The Schedule of Expenditures of Federal and State Awards presents the activity of all applicable federal and state awards programs of the South Texas Development Council. The Council's reporting entity is defined in Note 1 of the basic financial statements. Federal and state awards received directly from federal and state agencies, as well as awards passed through other government agencies, are included on the Schedule of Expenditures of Federal and State Awards. 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 the South Texas Development Council, is not intended to and does not present the financial position, changes in net assets, or cash flows of the South Texas Development Council.
Title: BASIS OF ACCOUNTING
Accounting Policies: 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 SEFA schedule presents only a selected portion of the operations of the South Texas Development Council, is not intended to and does not present the financial position, changes in net assets, or cash flows of the South Texas Development Council.
De Minimis Rate Used: N
Rate Explanation: The South Texas Development Council has elected not to use the 10% de minims indirect cost rate as allowed in the Uniform Guidance. The cost rate is negotiated and approved by the Department of Interior.
The Schedule of Expenditures of Federal and State Awards is presented using the modified accrual basis of accounting. The modified accrual basis of accounting is described in Note 1 of the basic financial statements. The information in this schedule is presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Governments, and Nonprofit Organizations. Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: INDIRECT COST
Accounting Policies: 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 SEFA schedule presents only a selected portion of the operations of the South Texas Development Council, is not intended to and does not present the financial position, changes in net assets, or cash flows of the South Texas Development Council.
De Minimis Rate Used: N
Rate Explanation: The South Texas Development Council has elected not to use the 10% de minims indirect cost rate as allowed in the Uniform Guidance. The cost rate is negotiated and approved by the Department of Interior.
The South Texas Development Council has elected not to use the 10% de minims indirect cost rate as allowed in the Uniform Guidance. The cost rate is negotiated and approved by the Department of Interior.