Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the federal financial assistance programs
of the Ogallala Land & Water Conservancy (the “Organization”) and is presented on the accrual basis of
accounting. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code
of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit
Requirements for Federal Awards. Therefore, some amounts presented in the schedule may differ from amounts
presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has negotiated indirect cost rate and, therefore, has elected not to use the 10% de minimus
indirect cost rate.