Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Region Five Development Commission under programs of the federal government for the year ended June 30, 2025. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Region Five Development Commission, it is not intended to, and does not, present the financial position, changes in net position or cash flows of Region Five Development Commission.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Region Five Development Commission has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Commission passed federal funds to subrecipients during the year ended June 30, 2025 as shown in the Schedule.
The Commission's pass-through identifying number is AM22RFBCMN0006.