Notes to SEFA
Title: 1. BASIS OF PRESENTATION
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 230, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Federal Assistance Listing Number (formerly known as Catalog of Federal Domestic Assistance (CFDA) Number) is a program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence. The Uniform Guidance requires the Schedule to include the name of the “pass-through entity” and the identifying number assigned by the “pass through entity” for the federal awards received as a sub-recipient. Numbers identified as N/A are not applicable and numbers identified as N/AV are not available.
De Minimis Rate Used: N
Rate Explanation: The Estuary has determined to use the cost allocation Methodology V5.0 plan approved by the Environmental Protection Agency in March 2016.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Estuary 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 2 CFR, Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Estuary, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Estuary. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the financial statements.
Title: 4. RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 230, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Federal Assistance Listing Number (formerly known as Catalog of Federal Domestic Assistance (CFDA) Number) is a program identification number. The first two digits identify the federal department or agency that administers the program and the last three numbers are assigned by numerical sequence. The Uniform Guidance requires the Schedule to include the name of the “pass-through entity” and the identifying number assigned by the “pass through entity” for the federal awards received as a sub-recipient. Numbers identified as N/A are not applicable and numbers identified as N/AV are not available.
De Minimis Rate Used: N
Rate Explanation: The Estuary has determined to use the cost allocation Methodology V5.0 plan approved by the Environmental Protection Agency in March 2016.
The reconciliation of expenses per financial statements to the Schedule of Expenditures of Federal Awards is as follows:
Expenses per financial statements $ 2,527,258
Less: Nonfederal expenditures (189,111)
Expenditures per Schedule of Expenditures of Federal Awards $ 2,338,147