Notes to SEFA
Accounting Policies: NOTE 1 - PURPOSE OF THE SCHEDULEThe accompanying Schedule of Expenditures of Federal Awards is a supplementary schedule to theCouncil's financial statements and is presented for purposes of additional analysis. Because the schedulepresents only a selected portion of the activities of the Council, it is not intended to, and does not presentfinancial position, changes in fund balances, or the current funds, revenue, expenditures, and otherchanges of the Council.NOTE 2 - SIGNIFICANT ACCOUNTING POLICIESBasis of PresentationThe information in the schedule is presented in accordance with Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirement for FederalAwards.Federal AwardsPursuant to Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, CostPrinciples and Audit Requirements for Federal Awards assistance is defined by a federal agency, eitherdirectly or indirectly in the form of grants, contracts, cooperative agreements, loans, loan guarantees,property, interest subsidies, insurance or direct appropriation. Accordingly, non-monetary federalassistance, including federal surplus property, would be included in federal awards, if applicable, andtherefore, would be reported on the schedule in federal awards. Federal awards include direct federal cashassistance to individuals.Type A and Type B ProgramsThe Single Audit Act Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements Cost Principles, and Audit Requirements for Federal Awards establish the levels ofexpenditures or expenses to be used in defining Type A and Type B federal award programs. Type Aprograms, for the Council, are those programs which exceed $750,000 in federal expenditures,distributions, or issuances for the fiscal year ended June 30, 2022.Reporting EntityThe reporting entity is fully described in Note 1 of the Council financial statements. The schedule includesall federal award programs administered by the Council for the year ended June 30, 2022.Basis of AccountingThe expenditures in the schedule are recognized as incurred based on the modified accrual basis ofaccounting and the cost accounting principles contained in the Uniform Guidance, Cost Principles for Stateand Local Governments. Under those cost principles, certain types of expenditures are not allowable orare limited as to reimbursement.Matching CostsThe schedule does not include matching expenditures.10% De Minimis Indirect Cost RateThe entity did not choose to use the 10% minimis cost rate.Direct and Indirect Flow-Through Federal AssistanceSome of the Council's Federal awards are received directly from the granting federal agency. However,the majority of federal awards as identified on the schedule are passed through a separate entity prior toreceipt by the Council.Sub-recipientsThe Council does not pass through to any sub-recipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.