Notes to SEFA
Title: Basis of Accounting
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Grantor funding under YPICs federal awards provides directly funded administrative costs and, accordingly, YPIC did not use the 10 percent de minimis indirect cost rate covered in 2 CFR ?200.414.
The accompanying schedule of expenditures of federal awards (schedule) includes Yuma Private Industry Council, Inc.s federal grant activity for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Title: Federal Assistance Listings Number
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Grantor funding under YPICs federal awards provides directly funded administrative costs and, accordingly, YPIC did not use the 10 percent de minimis indirect cost rate covered in 2 CFR ?200.414.
The program titles and Federal Assistance Listings numbers were obtained from the federal or pass-through grantor or the 2022 Federal Assistance Listings.