Notes to SEFA
Title: Note D Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Kentucky RiverFoothills Development Council, Inc. and is presented on the accrual basis of accounting. The information in thisschedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (UniformGuidance). Therefore, some amounts presented in, or used in the preparation of, the basic financial statements maydiffer from those numbers.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance),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.
The Agency did not pass through any funds to subrecipients during the year ended June 30, 2022.