Notes to SEFA
The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of Summit Land Conservancy (the “Conservancy”) The reporting entity is defined in Note 1 to the basic financial statements. All federal awards received directly from federal agencies as well as federal awards passed-through other government agencies are included on the schedule of expenditures of federal awards. Because the schedule presents only a selected portion of the operations of the Conservancy, it is not intended to, and does not present the financial position, changes in net position or cash flows of the entity.
The Conservancy has elected to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
The Conservancy received no non-cash assistance during the period presented.