Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Commission under programs of the federal government for the year ended June 30, 2024. Because this schedule presents only a selected portion of operation of the Commission, it is not intended to and does not present the financial position, change in net assets, or cash flows of the Commission.
The accompanying schedule of expenditure of federal awards is presented on the accrual basis of accounting, which is described in Note 2 of the Commission’s basic financial statements. The information in this schedule is presented in accordance with the requirements Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
The Commission has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.