Notes to SEFA
he accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of Colinas de Jaguas Development (the Project). The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the financial statements. The Project reporting entity is defined in Note 1 in the Notes to the Financial Statements on pages from 11 through 16. All federal awards received passedthrough other government agencies, if any, are included on the Schedule.
This schedule is prepared from project's accounting records and is not intended to present financial position or the results of operations. The financial transactions are recorded by the Project in accordance with the terms and conditions of the grants, which are consistent with US GAAP. Expenditures are recognized in the accounting period in which the liability is incurred, if measurable or when actually paid, whichever occurs first. The Project has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
he Federal Assistance Listing Number, formerly known as the Catalog of Federal Domestic Assistance (CFDA) Number, is a five-digit number assigned in the awarding document for all Federal assistance award mechanisms, including Federal grants and cooperative agreements.