Notes to SEFA
Accounting Policies: Note 1 The accompanying Schedule of Expenditures of Federal Awards includes the Federal grant
activity of the Conservancy, and is presented on the accrual basis of accounting. The
information in this schedule is presented in accordance with 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 basic financial
statements.
Note 2 Management has reported that expenditures in the Schedule of Expenditures of Federal Awards
are equal to those amounts reported in the annual or final cost reports. Unallowed differences, if
any, have been disclosed to the auditor.
Note 3 The financial reports, including claims for advances and reimbursements, and amounts claimed
or used for matching, are timely, complete, accurate and contain information that is supported by
the books and records from which the basic financial statements have been prepared.
Note 4 A reconciliation of expenditures on the Schedule of Expenditures of Federal Awards with the
consolidated financial statements is as follows:
Federal expenditures per Schedule of Expenditures
of Federal Awards $ 1,497,500
Other grant expenditures 1,200
Grants per financial statements $ 1,498,700
Note 5 The Conservancy did not use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: The Conservancy did not use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.