Notes to SEFA
Title: Basis of presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the activities in all the Federal programs of KCS 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of KCS, it is not intended to and does not present the financial position, changes in net assets, or cashflows of KCS.
De Minimis Rate Used: N
Rate Explanation: KCS has not elected to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the activities in all the Federal programs of KCS 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of KCS, it is not intended to and does not present the financial position, changes in net assets, or cashflows of KCS.
Title: Indirect cost rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the activities in all the Federal programs of KCS 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 Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of KCS, it is not intended to and does not present the financial position, changes in net assets, or cashflows of KCS.
De Minimis Rate Used: N
Rate Explanation: KCS has not elected to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
KCS has not elected to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.