Notes to SEFA
Title: Summary of certain significant accounting policies
Accounting Policies: See notes to SEFA
De Minimis Rate Used: Y
Rate Explanation: De minimis cost rate used
The accompanying schedule of expenditures of federal awards presents the activity of federal awards administered by the Agency using the accrual basis of accounting. Federal awards that are included in the schedule may be received directly from federal agencies, as well as federal awards that are passed through from other government agencies. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regualtions Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: Summary of certain significant accounting policies
Accounting Policies: See notes to SEFA
De Minimis Rate Used: Y
Rate Explanation: De minimis cost rate used
Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as a source of the data presented. The Agency has elected to use the 10% de minimis indirect cost rate.
Title: Summary of certain significant accounting policies
Accounting Policies: See notes to SEFA
De Minimis Rate Used: Y
Rate Explanation: De minimis cost rate used
Matching costs (the Agency's share of certain program costs) are not included in the reported expenditures. The basis of accounting varies by federal program consistent with the underlying regulations pertaining to each program. The amounts reported as federal expenditures were obtained from the federal financial reports for the applicable program periods. The amounts reported in these reports are prepared from records maintained for each program, which are reconciled with the Agency's financial reporting system.
Title: Scope of Audit
Accounting Policies: See notes to SEFA
De Minimis Rate Used: Y
Rate Explanation: De minimis cost rate used
All federal grants of the Agency are included in the scope of the single audit.
Title: Subrecipients
Accounting Policies: See notes to SEFA
De Minimis Rate Used: Y
Rate Explanation: De minimis cost rate used
No amounts were paid to subrecipients.
Title: Other disclosures
Accounting Policies: See notes to SEFA
De Minimis Rate Used: Y
Rate Explanation: De minimis cost rate used
No insurance is carried specifically to cover equipment purchased with federal funds. Any equipment purchased with federal funds has only a nominal value, and is covered by the Agency's casualty insurance policies.
Title: Other disclosures
Accounting Policies: See notes to SEFA
De Minimis Rate Used: Y
Rate Explanation: De minimis cost rate used
There were no loans or loan guarantees outstanding at year-end.