Notes to SEFA
Title: NOTE 4 SUB RECIPIENT
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Lowcountry Council of Governments (LCOG) under programs of the federal government for the year ended June 30, 2022. The information in the 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 LCOG, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Organization.NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards or OMB Circular A-87, Cost Principles for State, Local & Indian Tribe Governments, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
LCOG provided federal awards to the sub recipient that administers the programs on behalf of LCOG, as follows and provided in the SEFA:SubrecipientIdentifying NumberAmount ProvidedRoss Innovative Employment Solutions:W1OA 2018-01-AD4-050Workforce Cluster$ 688,815