Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Downriver Community Conference (the “DCC”) under programs of the federal government for the year ended September 30, 2024. The information in the 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the DCC, it is not intended to and does not present the financial position, changes in net position, or cash flows of the DCC. Expenditures reported in the Schedule are reported on the same basis of accounting as the basic financial statements of DCC. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The DCC has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs as allowed under the Uniform Guidance. DCC has an indirect cost allocation plan (IDCAP) that has been approved by its cognizant agency.
De Minimis Rate Used: N
Rate Explanation: The DCC has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs as allowed under the Uniform Guidance. DCC has an indirect cost allocation plan (IDCAP) that has been approved by its cognizant agency.