Notes to SEFA
Title: NOTE 1 – 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
De Minimis Rate Used: Y
Rate Explanation: The Council has elected to use the ten percent de minimis indirect cost rate allowed under the
Uniform Guidance
The accompanying schedule of expenditures of federal and state awards (“Schedule”) presents the
federal and state program activity of the Council. The Schedule is presented on the accrual basis
of accounting. The information in the 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”) and the Texas
Grant Management Standards, issued by the Governor’s Office of Budget and Planning. Because
the Schedule represents only a selected portion of the operations of the Council, it is not intended
to and does not present the financial position, changes in net assets, or cash flows of the Council.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNITNG POLICIES
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
De Minimis Rate Used: Y
Rate Explanation: The Council has elected to use the ten percent de minimis indirect cost rate allowed under the
Uniform Guidance
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 and
the Texas Grant Management Standards.
Title: NOTE 3 – INDIRECT COSTS
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
De Minimis Rate Used: Y
Rate Explanation: The Council has elected to use the ten percent de minimis indirect cost rate allowed under the
Uniform Guidance
The Council has elected to use the ten percent de minimis indirect cost rate allowed under the
Uniform Guidance and the Texas Grant Management Standards.