Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of North Mississippi Commission on Mental Illness and Mental Retardation under programs of the federal government for the 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of North Mississippi Commission on Mental Illness and Mental Retardation, it is not intended to and does not present the financial position, changes in net position, or cash flows of North Mississippi Commission on Mental Illness and Mental Retardation.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of North Mississippi Commission on Mental Illness and Mental Retardation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Effective for grants beginning on or after October 1, 2024, Uniform Guidance increased the de minimis rate from 10% to 15%. Management elected to continue using 10% until all grants that began prior to October1, 2024, have been closed.