Notes to SEFA
Title: Schedule of Expenditures of Federal Awards
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) is presented on the accrual basis of accounting. The information in the SEFA 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). Amounts reported in the SEFA are based on expenditures incurred during the fiscal year that are eligible under the terms of the respective federal awards.
De Minimis Rate Used: N
Rate Explanation: The auditee elected not to use the 10-percent de minimis indirect cost rate under the Uniform Guidance. No indirect costs were charged to the federal awards.
The Schedule of Expenditures of Federal Awards presents the federal grant activity of Adopt-A-Stream Foundation for the year ended June 30, 2024. Total expenditures were $1,168,685, consisting of the Wood Creek Bridge Removal Project (CFDA 11.463, $1,112,534), Philchuck River Tributary Buffer Enhancement Partnership: Coon Creek (CFDA 66.640, $33,617), and West Fork Quilceda Creek Water Quality Partnership (CFDA 66.640, $22,534).
Title: Major Program Identification
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) is presented on the accrual basis of accounting. The information in the SEFA 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). Amounts reported in the SEFA are based on expenditures incurred during the fiscal year that are eligible under the terms of the respective federal awards.
De Minimis Rate Used: N
Rate Explanation: The auditee elected not to use the 10-percent de minimis indirect cost rate under the Uniform Guidance. No indirect costs were charged to the federal awards.
The major program for the year ended June 30, 2024 was the Wood Creek Bridge Removal Project (CFDA 11.463). It met the Type A program threshold of $750,000 and was audited with an unmodified opinion and zero findings.
Title: Basis of Presentation
Accounting Policies: The Schedule of Expenditures of Federal Awards (SEFA) is presented on the accrual basis of accounting. The information in the SEFA 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). Amounts reported in the SEFA are based on expenditures incurred during the fiscal year that are eligible under the terms of the respective federal awards.
De Minimis Rate Used: N
Rate Explanation: The auditee elected not to use the 10-percent de minimis indirect cost rate under the Uniform Guidance. No indirect costs were charged to the federal awards.
The SEFA is presented on the accrual basis of accounting, in accordance with 2 CFR 200.510(b), and reconciles to the financial statements.