Notes to SEFA
Title: Note 2
Accounting Policies: 1. The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Recovery Council of Southeast Texas (RCSETX) and is presented on the accrual basis of accounting.
The information in this schedule is presented in accordance with the requirements of the Office of
Management and Budget (OMB) Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards.
De Minimis Rate Used: Y
Rate Explanation: RCSETX utilizes a Federal indirect cost rate of 10% on some of its grants.
Federal grant funds are considered to be earned to the extent of expenditures made under the
provisions of the grant.
Title: Note 3
Accounting Policies: 1. The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Recovery Council of Southeast Texas (RCSETX) and is presented on the accrual basis of accounting.
The information in this schedule is presented in accordance with the requirements of the Office of
Management and Budget (OMB) Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards.
De Minimis Rate Used: Y
Rate Explanation: RCSETX utilizes a Federal indirect cost rate of 10% on some of its grants.
The period of availability for federal grant funds for the purpose of liquidation of outstanding
obligations made on or before the ending date of the federal project period extended 90 days beyond
the federal project period ending date or as specified in a program regulation, in accordance with
provisions in Office of Management and Budget (OMB) Part 200, Uniform Administrative
Requirements, Cost Principles, and Audit Requirements for Federal Awards – Section 200.343 Closeout.
Title: Note 4
Accounting Policies: 1. The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Recovery Council of Southeast Texas (RCSETX) and is presented on the accrual basis of accounting.
The information in this schedule is presented in accordance with the requirements of the Office of
Management and Budget (OMB) Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards.
De Minimis Rate Used: Y
Rate Explanation: RCSETX utilizes a Federal indirect cost rate of 10% on some of its grants.
RCSETX utilizes a Federal indirect cost rate of 10% on some of its grants.