Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures
Expenditures reported on the schedule of expenditures of federal awards (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. Pacific States Marine Fisheries Commission has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Pass-Through Entities
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Pacific States Marine Fisheries Commission has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule includes the federal award activity of Pacific States Marine Fisheries 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 2 CFR 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 Pacific States Marine Fisheries Commission, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Pacific States Marine Fisheries Commission.