Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.Pass-through entity identifying numbers are presented where available. The Commission did not have any loans or loan guarantees which are subject to reporting requirements for the year.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of Central Virginia Planning District Commission under programs of the federal government for the year
ended June 30, 2024. 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 Central Virginia Planning District Commission, it is not intended to and does not
present the financial position, changes in net position, or cash flows of Central Virginia Planning District
Commission.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.Pass-through entity identifying numbers are presented where available. The Commission did not have any loans or loan guarantees which are subject to reporting requirements for the year.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.Pass-through entity identifying numbers are presented where available. The Commission did not have any loans or loan guarantees which are subject to reporting requirements for the year.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.Pass-through entity identifying numbers are presented where available. The Commission did not have any loans or loan guarantees which are subject to reporting requirements for the year.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
No awards were passed through to subreceipients.
Title: De Minimis Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.Pass-through entity identifying numbers are presented where available. The Commission did not have any loans or loan guarantees which are subject to reporting requirements for the year.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
The Commission did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Title: Relationship to Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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.Pass-through entity identifying numbers are presented where available. The Commission did not have any loans or loan guarantees which are subject to reporting requirements for the year.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
Federal expenditures, revenues and capital contributions are reported in the Commission's basic financial statements as follows: