Notes to SEFA
Title: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: For the year ended September 30, 2024, the indirect cost allocation rate was 16.50%. Inter Tribal-Council of Arizona, Inc. did not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance as covered in 2 CFR 200.414.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Inter-Tribal Council of Arizona, Inc. 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 Inter Tribal Council of Arizona, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Inter-Tribal Council of Arizona, Inc.