Notes to SEFA
The accompanying notes to the schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Summit Metro Parks (the Park District) under programs of the federal government for the year ended December 31, 2025. The information on this Schedule is prepared 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 District, it is not intended to and does not present the financial position, or changes in net position, of the District.
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
The Park District has elected not to use the 10-15 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Certain Federal programs require the Park District to contribute non-Federal funds (matching funds) to support the Federally-funded programs. The Park District has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.