Notes to SEFA
Title: Federal Financial Assistance
Accounting Policies: Basis of Presentation The Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of the Uniform Guidance; therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Klamath Watershed Partnership does not use the 10% de minimis indirect cost rate as allowed by the Uniform Guidance.
Pursuant to Uniform Guidance, federal financial assistance is defined as assistance provided by a federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsidies, insurance or direct appropriations. Accordingly, non-monetary federal assistance, including federal surplus property, is included in federal financial assistance and, therefore, is reported on the schedule of expenditures of federal awards, if applicable. Federal financial assistance does not include direct federal cash assistance to individuals. Solicited contracts between the state and federal government for which the federal government procures tangible goods or services are not considered to be federal financial assistance.
Title: Major Programs
Accounting Policies: Basis of Presentation The Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of the Uniform Guidance; therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Klamath Watershed Partnership does not use the 10% de minimis indirect cost rate as allowed by the Uniform Guidance.
Uniform Guidance establishes criteria to be used in defining major federal financial assistance programs. Major programs for Klamath Watershed Partnership are those programs selected for testing by the auditor using a risk-assessment model, as well as certain minimum expenditure requirements, as outlined in Uniform Guidance. Programs with similar requirements may be grouped into a cluster for testing purposes.
Title: Reporting Entity
Accounting Policies: Basis of Presentation The Schedule of Expenditures of Federal Awards is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of the Uniform Guidance; therefore, some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Klamath Watershed Partnership does not use the 10% de minimis indirect cost rate as allowed by the Uniform Guidance.
The reporting entity is fully described in notes to the financial statements. The schedule includes all federal programs administered by Klamath Watershed Partnership for the year ended December 31, 2024.