Notes to SEFA
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of federal awards includes the federal grant activity of Siskiyou County Economic Development Council (SCEDC) and is
presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts
presented in, or used in, the preparation of the financial statements.
2. Summary of Significant Accounting Policies
Expenditures - Expenditures reported on the Schedule are reported on the 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 to reimbursement.
Indirect Cost Rate - SCEDC has elected to use the 10 percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
3. Subrecipients
Of the federal expenditures presented in this schedule, SCEDC did not provide any federal awards
to subrecipients.
4. Nonmonetary Assistance
SCEDC neither received nor disbursed federal awards in the form of nonmonetary assistance
during the fiscal year ended June 30, 2024.
De Minimis Rate Used: Y
Rate Explanation: Siskiyou County Economic Development Council has elected to use the 10 percent de minimis indirect cost rate as allowed
under the Uniform Guidance.