Notes to SEFA
Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use the 10 percent de minimis indirect cost rate, as allowed under
the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal and State Awards includes the federal and
state award activity of the Commission under programs of the federal government for the year ended
September 30, 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 the Commission, it is not
intended to and does not present the financial position, changes of net assets, or cash flows of the
Commission.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use the 10 percent de minimis indirect cost rate, as allowed under
the Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified 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.
Title: NOTE 3 – PASS-THROUGH GRANT NUMBERS
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use the 10 percent de minimis indirect cost rate, as allowed under
the Uniform Guidance.
All pass-through entities listed above use the same Assistance Listing numbers as the federal grantors
to identify these grants and have not assigned any additional identifying numbers.
Title: NOTE 4 – INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: The Commission did not elect to use the 10 percent de minimis indirect cost rate, as allowed under
the Uniform Guidance.
The Commission did not elect to use the 10 percent de minimis indirect cost rate, as allowed under
the Uniform Guidance.