Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Jackson Convention and Visitors Bureau under programs of the federal government. 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 Requirements, Cost Principles, and Audit Requirement for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Bureau, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Bureau. Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recofnized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Bureau has not elected to use the 10% de minimis indirect cost rate under the Uniform Guidance.