Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: 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 as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Trust has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying schedule of expenditure of federal awards (the Schedule) includes the federal grant
activity of California Rangeland Trust (the Trust) under programs of the federal government for the year
ended December 31, 2023. 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 Trust, it is not intended to, and does not, present
the financial position, changes in net assets, functional expenses or cash flows of the Trust.
Title: Note 4 - Subrecipients
Accounting Policies: 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 as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Trust has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.
The Trust did not provide federal awards to subrecipients during the year ended December 31, 2023.