Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Nevada Tahoe Conservation District (the “District”) under programs of the Federal Government for the year ended June 30, 2023. 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 the Nevada Tahoe Conservation District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the District.
Expenditures reported in the Schedule are reported on the 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. No federal financial assistance has been provided to a subrecipient.
The District has not elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance. For awards issued prior to October 31, 2024, the de minimis indirect cost rate was 10% and was 15% thereafter. The District has a negotiated indirect cost rate of 34.82% with the oversight agency.