Notes to SEFA
Title: REFERENCES TO SCHEDULE SCHEDULE OF FEDERAL EXPENDITURES
Accounting Policies: EXPENDITURES REPORTED ON ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: Y
Rate Explanation: Organization uses the 10% indirect cost rate allowed under the Uniform Guidance.
(I) Indirect Funding (D) Direct Funding
Title: BASIS OF PRESENTATION
Accounting Policies: EXPENDITURES REPORTED ON ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: Y
Rate Explanation: Organization uses the 10% indirect cost rate allowed under the Uniform Guidance.
The schedule of expenditures of federal awards includes the federal grant activity of Capital Resource Conservation and Development Area Council, Inc. and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: EXPENDITURES REPORTED ON ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: Y
Rate Explanation: Organization uses the 10% indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: SUMMARY OF SIGNIFICANT ACCONTING POLICIES
Accounting Policies: EXPENDITURES REPORTED ON ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: Y
Rate Explanation: Organization uses the 10% indirect cost rate allowed under the Uniform Guidance.
The Organization has elected to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.