Title: BASIS OF PRESENTATION
Accounting Policies: NOTE 1- BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the Catawba Regional 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 Catawba Regional Council of Governments, it is not intended to and does not present the financial position or changes in net position of the Catawba Regional Council of Governments. NOTE 2- COST PRINCIPLES 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.
De Minimis Rate Used: N
Rate Explanation: The Catawba Regional 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 the Catawba Regional 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 Catawba Regional Council of Governments, it is not intended to and does not present the financial position or changes in net position of the Catawba Regional Council of Governments.
Title: COST PRINCIPLES
Accounting Policies: NOTE 1- BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the Catawba Regional 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 Catawba Regional Council of Governments, it is not intended to and does not present the financial position or changes in net position of the Catawba Regional Council of Governments. NOTE 2- COST PRINCIPLES 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.
De Minimis Rate Used: N
Rate Explanation: The Catawba Regional 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: INDIRECT COST RATE
Accounting Policies: NOTE 1- BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the Catawba Regional 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 Catawba Regional Council of Governments, it is not intended to and does not present the financial position or changes in net position of the Catawba Regional Council of Governments. NOTE 2- COST PRINCIPLES 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.
De Minimis Rate Used: N
Rate Explanation: The Catawba Regional Council of Governments has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Catawba Regional Council of Governments has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: LOANS OUTSTANDING
Accounting Policies: NOTE 1- BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the Catawba Regional 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 Catawba Regional Council of Governments, it is not intended to and does not present the financial position or changes in net position of the Catawba Regional Council of Governments. NOTE 2- COST PRINCIPLES 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.
De Minimis Rate Used: N
Rate Explanation: The Catawba Regional Council of Governments has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Catawba Regional Council of Governments had the following EDA - SC Agribusiness loan balances outstanding at June 30, 2024. These loan balances outstanding are also included in the federal expenditures presented in the Schedule. The calculation of federal funds expended for the EDA - SC Agribusiness Loan Fund as reported in the Schedule is as follows: The Catawba Regional Council of Governments had the following EDA - COVID Revolving loan balances outstanding at June 30, 2024. These loan balances outstanding are also included in the federal expenditures presented in the Schedule. The calculation of federal funds expended for the EDA - COVID Revolving Loan Fund as reported in the Schedule is as follows: