Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: see attached notes
De Minimis Rate Used: N
Rate Explanation: Mountain Plains Community Development Corporation, is eligible to apply a 10% de minimis indirect cost rate on certain grants that have been awarded. Mountain Plains Community Development Corporation has evaluates this application on a grant-by-grant basis
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Mountain Plains Community Development Corporation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Mountain Plains Community Development Corporation, is eligible to apply a 10% de minimis indirect cost rate on certain grants that have been awarded. Mountain Plains Community Development Corporation has evaluates this application on a grant-by-grant basis.
Title: NOTE B - ECONOMIC DEVELOPMENT ASSISTANCE PROGRAM
Accounting Policies: see attached notes
De Minimis Rate Used: N
Rate Explanation: Mountain Plains Community Development Corporation, is eligible to apply a 10% de minimis indirect cost rate on certain grants that have been awarded. Mountain Plains Community Development Corporation has evaluates this application on a grant-by-grant basis
The Economic Assistance Cluster Program (CFDA 11.307) is associated with grant Investments for Public Works and Economic Development Facilities (CFDA. 11.300) as part of a cluster program under the Department of Commerce. Mountain Plains Community Development Corporation did not receive any funds under CFDA 11.300. The revenue received is approximately the same as the expenses noted above.
Title: NOTE C - REVOLVING LOAN FUND CALCULATION - NOT APPLICABLE
Accounting Policies: see attached notes
De Minimis Rate Used: N
Rate Explanation: Mountain Plains Community Development Corporation, is eligible to apply a 10% de minimis indirect cost rate on certain grants that have been awarded. Mountain Plains Community Development Corporation has evaluates this application on a grant-by-grant basis
Mountain Plains Community Development Corporation did not receive any revolving loan funds (RLF) which would require disclosure under a specific formula as outlined in the calculation for Revolving Loan Funds for SEFA purposes as established by 2 CFR Part 200 Appendix XI. Management is aware of the disclosure requirement and it is not applicable to the federal expenditures as of September 30, 2024.