Notes to SEFA
Title: REPORTING ENTITIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which conforms to accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The Single Audit conducted for the period ended September 30, 2022 covered the entire operations of Iowa Soybean Association and Subsidiaries. The taxpayer identification numbers (TINs) covered under the audit included 42-6127197, 42-1503605, 42-1510504, 20-3785882, 39-1899505, and 85-3106133.
Title: PASS THROUGH IDENTIFICATION NUMBERS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which conforms to accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Some of the programs, grants and/or awards included in the Schedule are missing the pass-through entity identification number. The missing numbers are due to the pass-through entities not providing the pass-through identification numbers.