Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: THE INFORMATION IN THIS SCHEDULE IS PRESENTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING AND IN ACCORDANCE WITH THE REQUIREMENTS OF THE UNIFORM GUIDANCE. EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN 2 CFR PART 200, COST PRINCIPLES FOR STATES, LOCAL GOVERNMENTS, AND INDIAN TRIBES, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE SOUTH CAROLINA COUNCIL OF GOVERNMENTS HAS NOT ELECTED TO USE THE 10-PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of South Carolina Appalachian Council of Governments under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented on the modified accrual basis of accounting and in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the South Carolina Appalachian Council of Governments, it is not intended to and does not present the financial position or changes in net position of the South Carolina Appalachian Council of Governments.
Title: NOTE 2 - COST PRINCIPLES
Accounting Policies: THE INFORMATION IN THIS SCHEDULE IS PRESENTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING AND IN ACCORDANCE WITH THE REQUIREMENTS OF THE UNIFORM GUIDANCE. EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN 2 CFR PART 200, COST PRINCIPLES FOR STATES, LOCAL GOVERNMENTS, AND INDIAN TRIBES, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE SOUTH CAROLINA COUNCIL OF GOVERNMENTS HAS NOT ELECTED TO USE THE 10-PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
Expenditures are recognized following the cost principles contained in 2 CFR Part 200, Cost Principles for States, Local Governments, and Indian Tribes, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Matching costs, i.e., the non-federal share of certain program costs, are not included in the Schedule.
Title: NOTE 3 - INDIRECT COST RATE
Accounting Policies: THE INFORMATION IN THIS SCHEDULE IS PRESENTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING AND IN ACCORDANCE WITH THE REQUIREMENTS OF THE UNIFORM GUIDANCE. EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN 2 CFR PART 200, COST PRINCIPLES FOR STATES, LOCAL GOVERNMENTS, AND INDIAN TRIBES, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE SOUTH CAROLINA COUNCIL OF GOVERNMENTS HAS NOT ELECTED TO USE THE 10-PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
The South Carolina Appalachian Council of Governments has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 4 - SUBRECIPIENTS
Accounting Policies: THE INFORMATION IN THIS SCHEDULE IS PRESENTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING AND IN ACCORDANCE WITH THE REQUIREMENTS OF THE UNIFORM GUIDANCE. EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN 2 CFR PART 200, COST PRINCIPLES FOR STATES, LOCAL GOVERNMENTS, AND INDIAN TRIBES, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE SOUTH CAROLINA COUNCIL OF GOVERNMENTS HAS NOT ELECTED TO USE THE 10-PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
Of the federal expenditures presented in the Schedule, the Council provided federal awards to subrecipients, which are disclosed in the following schedule.