Notes to SEFA
Title: Fair Value of Donated Personal Property AL 39.003
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant
activity of Igiugig Village Council under programs of the federal government for the year ended September
30, 2024. 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 Requirements for
Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations
of Igiugig Village Council, it is not intended to and does not represent the financial position, change in net
position or cash flows of Igiugig Village Council. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures 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
expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Igiugig Village Council has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Expenditures reported on the Schedule for assistance listing number 39.003 is equal to the fair value of the
property at the time of receipt from the federal government.
Title: Unearned Revenue
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant
activity of Igiugig Village Council under programs of the federal government for the year ended September
30, 2024. 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 Requirements for
Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations
of Igiugig Village Council, it is not intended to and does not represent the financial position, change in net
position or cash flows of Igiugig Village Council. Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures 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
expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Igiugig Village Council has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Unearned revenue by AL Number:
Program Title AL Number Amount
Tribal Climate Resilience 15.156 $ 27,336
Tribal Courts 15.029 216,422
Cultural Resources Management 15.946 2,769
Highway Planning and Construction 20.205 1,720
Coronavirus State and Local Fiscal Recovery Funds 21.027 175,299
Total federal 423,546
Non-federal funds 4 ,489,346
Total Unearned Revenue $ 5,336,438