Notes to SEFA
The accompanying schedule fo expenditures of federal awards (the Schedule) includes the federal grant activity of Indian Nations Council of Governments (INCOG) 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 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 INCOG's, it is not intended to and does not present the financial position, changes in net position, or cash flows of INCOG.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cos principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
INCOG has elected not to use the 10 percent de minimus cost rate allowed under Section 200.414(f) of the Uniform Guidance.