Notes to SEFA
Title: Basis of Presentation
Accounting Policies: see form
De Minimis Rate Used: Y
Rate Explanation: 10% indirect cost rate
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Council under programs of the federal government for the year ended March 31, 2023. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Center, it is not intended and does not represent the financial position, change in net assets or cash flows of the Center
Title: Summary of Significant Accounting Policies
Accounting Policies: see form
De Minimis Rate Used: Y
Rate Explanation: 10% indirect cost rate
Expenditures reported on the Schedules are reported on the 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.
Title: Indirect Cost Rate
Accounting Policies: see form
De Minimis Rate Used: Y
Rate Explanation: 10% indirect cost rate
The Council has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
Title: Subrecipients
Accounting Policies: see form
De Minimis Rate Used: Y
Rate Explanation: 10% indirect cost rate
Pass-through entity identifying numbers are presented when available.