Notes to SEFA
Accounting Policies: Note 1 Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards presents the activity of allfederal awards programs administered by Finger Lakes - Lake Ontario WatershedProtection Alliances (FLLOWPA), an entity as defined in Note 1 to FLLOWPAsfinancial statements. Federal awards received directly from federal agencies, as well asfederal awards passed through from other government agencies, are included on theSchedule of Expenditures of Federal Awards.Note 2 Basis of AccountingThe basis of accounting varies by federal program consistent with the underlyingregulations pertaining to each program.The amounts reported as federal expenditures generally were obtained from theappropriate federal financial reports for the applicable program and periods. The amountsreported in these federal financial reports are prepared from records maintained for eachprogram. These records are periodically reconciled to the general ledger, which is thesource of the financial statements.Note 3 Indirect CostsFLLOWPA did not elect to use the de minimus 10% indirect cost rate under UniformGuidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.