Notes to SEFA
Accounting Policies: Governmental fund types account for Nevadaworks’ federal grant activity. Therefore, expenditures in the schedule of expenditures of federal awards are recognized on the modified accrual basis – when they become a demand on current available financial resources. Nevadaworks’ summary of significant accounting policies is presented in Note 1 in Nevadaworks’ basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Nevadaworks has not elected to use the 10% de minimus cost rate.