Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal activity of the Placer Conservation Authority (Authority) under programs of the federal government for the fiscal 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 the Authority, it is not intended to and does not present the financial position and changes in net position of the Authority.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting for governmental funds. 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.
Federal award revenues are reported principally in the Authority’s financial statements as program revenues in the governmental activities.
When federal awards were received from a pass-through entity, the Schedule shows, if available, the identifying number assigned by the pass-through entity. When no identifying number is shown, the Authority has determined that no identifying number is assigned for the program, or the Authority was unable to obtain an identifying number from the pass-through entity.
The Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.