Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Black Gold Cooperative Library
System and ís presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the
requirements of the Title 2 U.S. Code of Federal Regulations Part 20D, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from
amounts presented in, or used in the preparation of, the basic financial statements. The System has not elected to use the ten percent de
minimus cost rate as covered in Section 200.414 Indirect (F&A) costs of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis cost rate.