Notes to SEFA
General - The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards assistance programs of the Association of Central Oklahoma Governments (“ACOG”). ACOG's reporting entity is described in Note 1 to ACOG's basic financial statements. Federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included on the schedule. Required local matching contributions are not included on the schedule. Basis of Accounting - The accompanying Schedule of Expenditures of Federal Awards is presented using the modified accrual basis of accounting, which is described in Note 1 to ACOG's basic financial statements.
ACOG has elected not to use the 10-percent de minimis cost rate allowed under Section 200.414(f) of the Uniform Guidance. The indirect cost rate charged to federal awards in 2024 was 61.67% or the rate mandated by the federal award.
N/A
ACOG has evaluated the effects of all subsequent events from June 30, 2024, through February 4, 2026, the date the SEFA was available to be issued, for potential recognition or disclosure in this SEFA. ACOG is not aware of any subsequent events which would require recognition or disclosure in the SEFA.