Notes to SEFA
Title: N/A
Accounting Policies: NOTE 1 - Notes to the Schedule of Expenditures of Federal Awards The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of Mississippi Consortium for International Development, Inc. (MCID) under programs of the federal government for the year ended December 31, 2024. 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of MCID, it is not intended to and does not present the financial position, changes in net assets, or cash flows of MCID. NOTE 2 - Basis of Presentation The accompanying schedule of expenditures of federal awards includes the federal grant activity of MCID and is presented on the accrual basis. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. NOTE 3. – Indirect Cost Rate: MCID has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
NOTE 1 - Notes to the Schedule of Expenditures of Federal Awards The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of Mississippi Consortium for International Development, Inc. (MCID) under programs of the federal government for the year ended December 31, 2024. 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 (the Uniform Guidance). Because the Schedule presents only a selected portion of the operations of MCID, it is not intended to and does not present the financial position, changes in net assets, or cash flows of MCID. NOTE 2 - Basis of Presentation The accompanying schedule of expenditures of federal awards includes the federal grant activity of MCID and is presented on the accrual basis. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. NOTE 3. – Indirect Cost Rate: MCID has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.