Notes to SEFA
Title: NOTE 1 – Basis of Presentation
Accounting Policies: Expenses reported on the schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis cost rate
The accompanying schedule of expenditures of federal awards includes the federal grant activity of North Central Fire Protection District under programs of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 District, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: NOTE 2 – Summary of Significant Accounting Policies
Accounting Policies: Expenses reported on the schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis cost rate
Expenses reported on the schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
Title: NOTE 3 – De Minimis Cost Rate
Accounting Policies: Expenses reported on the schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis cost rate
The District did not elect to use the 10% de minimis cost rate.
Title: NOTE 4 – Subrecipients
Accounting Policies: Expenses reported on the schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis cost rate
For the year ended June 30, 2023, no federal awards were provided to subrecipients by North Central Fire Protection District.