Notes to SEFA
This Schedule is prepared on the same basis of accounting as the Snohomish Conservation District's financial statements. The Snohomish Conservation District uses the cash basis accounting method.
Initially in 2024, the Snohomish Conservation District had negotiated indirect rates for some of its Federal awards with pass-through agencies. Indirect cost recovery was based on using approved indirect cost rates ranging from 5% to 29.35%. Effective 10/1/2024, the Snohomish Conservation District discontinued use of any negotiated indirect rates. As of that date, all indirect cost recovery was based on the de minimis indirect cost rate (which was 10% for grants executed prior to 10/1 and 15% for those executed following), other than cases where the District unilaterally elected to apply an indirect cost rate less than the de minimis rate. The amount expended includes $21,440 claimed as an indirect cost recovery using an approved indirect cost rate of 5 to 29.35 percent.
The amounts shown as current year expenditures represent only the federal award portion of the program costs. Entire program costs, including the Snohomish Conservation District’s portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.