Notes to SEFA
The accompanying schedule of expenditures of federal awards presents expenditures for all federal assistance awards that were in effect for the year ended December 31, 2024 for Blanco River Regional Recovery Team (“BR3T”). BR3T’s reporng enty is described in Note 1 of the financial statements.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of BR3T and is presented on the accrual basis of accounng. The informaon in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulaons (“CFR”) Part 200, Uniform Administrave Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Because the schedule presents only a selected portion of BR3T’s operaons, it is not intended to present, nor does it present the financial posion, changes in net assets, or cash flows of BR3T.
Expenditures relected on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance - Cost Principles for Non-Profit Organizationsons wherein certain types of expenditures are not allowable or are limited as to reimbursement.
There were no loans or loan guarantees outstanding at year-end. BR3T has elected to use the 10% de minimis indirect cost rate. BR3T did not disburse any federal awards to subrecipients for the year ended December 31, 2024.