Notes to SEFA
Title: Reconciliation of the Schedule to the Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of SNMCAC under programs of the federal government for the year ended June 30, 2022. Because the Schedule presents only a selected portion of the operations of SNMCAC, it is not intended to and does not present the financial position, changes in net assets, or cash flows of SNMCAC. Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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 (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: SNMCAC has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance
The following is a reconciliation of the expenditures reported in the Schedule to theexpenditures reported in the financial statements:Expenditures from the schedule of federal expenditures $ 8,721,637Expenditures funded by private and other sources 888,760Total grants and contracts revenue reported in the statement of activities $ 9,610,397