Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, OMB Circular A-122 Cost Principles
for Non-Profit Organizations where certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: Four Lakes Task Force has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity
of Four Lakes Task Force under programs of the federal government for the year ended December 31, 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 Four Lakes Task Force, it is not intended to and does not present the financial position, changes in net assets,
or cash flows of Four Lakes Task Force.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, OMB Circular A-122 Cost Principles
for Non-Profit Organizations where certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: Four Lakes Task Force has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
No amounts were provided to subrecipients.
Title: Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, OMB Circular A-122 Cost Principles
for Non-Profit Organizations where certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: Four Lakes Task Force has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Total Federal revenue per the Schedule of Expenditures of Federal Awards reconcile to the statement of activities
as follows:
Federal expenditures recorded on the SEFA $ 963,517
Adjustments for revenues recognized in the current
year's statement of activities, for expenditures that
occurred in prior years. 55,615
Federal revenues recorded on the statement of activities $ 1,019,132