Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity for the Council under programs of the federal government for the year ended December 31, 2023. 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 Council, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Council. All federal financial assistance received directly from federal agencies is included on the schedule, as well as federal financial assistance passed through other agencies.
The Council’s Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Council’s financial statements for the year ended December 31, 2023. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Council has not elected to use the 10 percent de minims indirect cost as allowed under the Uniform Guidance.
Amounts reported in the SEFA agree with the amounts reported in the related federal financial reports except for changes made to reflect amounts in accordance with accounting principles generally accepted in the United States of America.
Subsequent to submission, it was discovered that there were expenditures improperly excluded from the Schedule of Expenditures of Federal Awards included in the previously issued audited financial statements dated August 9, 2024. The correction of the error resulted in an increase in federal expenditures of $4,006,809 for Cook Road Improvements reported under assistance listing number 20.205 granted by the U.S. Department of Transportation. No events have occurred subsequent to August 9, 2024, through March 2, 2026, which was thedate the financial statements were reissued except as disclosed in the previous paragraph.