Notes to SEFA
Title: NOTE 1
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Boys and Girls Club of Magic Valley and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Boys and Girls Club of Magic Valley and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: NOTE 2
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Boys and Girls Club of Magic Valley and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: N/A
The Boys and Girls Club of Magic Valley has elected not to use the 10 percent de Minimis indirect cost rate as allowed under the Uniform Guidance.