Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Summary of significant accounting policies Expenditures reported on 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 reimbursements.
De Minimis Rate Used: Y
Rate Explanation: Indirect costs The Agency has elected to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
Basis of presentation The accompanying schedule of expenditures of federal and state awards (the Schedule) includes the federal and state grant activity of the Agency under programs of the federal and state government for the year ended June 30, 2022. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Subrecipients
Accounting Policies: Summary of significant accounting policies Expenditures reported on 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 reimbursements.
De Minimis Rate Used: Y
Rate Explanation: Indirect costs The Agency has elected to use the 10-percent de minimis cost rate allowed under the Uniform Guidance.
The Agency did not provide any federal awards to subrecipients during the year ended June 30, 2022