Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Accrual
De Minimis Rate Used: N
Rate Explanation: GWPC only has direct costs and does not charge any overhead to the federal monies.
The accompanying schedule of expenditures of federal awards, (the “Schedule”) includes the federal award activity of Ground Water Protection Council, (“GWPC”) under programs of the federal government for the year ended December 31, 2023 and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles sand Audit Requirements for Federal Awards (“Uniform Guidance”). Because the schedule presents only a selected portion of the operations of GWPC, it is not intended to and does not present the financial position, changes in net assets or cash flows of GWPC.
Title: Subrecipients
Accounting Policies: Accrual
De Minimis Rate Used: N
Rate Explanation: GWPC only has direct costs and does not charge any overhead to the federal monies.
GWPC did not provide federal awards to subrecipients during the year ended December 31, 2023.
Title: Indirect Cost Rates
Accounting Policies: Accrual
De Minimis Rate Used: N
Rate Explanation: GWPC only has direct costs and does not charge any overhead to the federal monies.
GWPC did not elect to use the 10 percent de minimis indirect cost rates as covered in 2CFR 200.414.