Notes to SEFA
Title: Note 3. Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Copper River Watershed Project under programs of the federal government for the year ended December 31, 2022. The information in this 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 Copper River Watershed Project, it is not intended to and does not present the financial position, changes in net assets or cash flows of Copper River Watershed Project.
De Minimis Rate Used: N
Rate Explanation: Copper River Watershed Project has elected not to use the 10-percent de minimis indirect rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
Title: Note 4. Passed Through Awards
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Copper River Watershed Project under programs of the federal government for the year ended December 31, 2022. The information in this 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 Copper River Watershed Project, it is not intended to and does not present the financial position, changes in net assets or cash flows of Copper River Watershed Project.
De Minimis Rate Used: N
Rate Explanation: Copper River Watershed Project has elected not to use the 10-percent de minimis indirect rate allowed under the Uniform Guidance.
The following amounts were passed through to subrecipients:Passed through to mini-grant recipients Alaska Invasive Plants Mini GrantsALN 10.680$ 122,748
Title: Note 5. Reconciliation of Federal Expenditures to the Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Copper River Watershed Project under programs of the federal government for the year ended December 31, 2022. The information in this 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 Copper River Watershed Project, it is not intended to and does not present the financial position, changes in net assets or cash flows of Copper River Watershed Project.
De Minimis Rate Used: N
Rate Explanation: Copper River Watershed Project has elected not to use the 10-percent de minimis indirect rate allowed under the Uniform Guidance.
Reconciliation of federal expenditures to the Statements of Activities:Federal grants$ 2,703,591Federal contracts 4,566Total Federal Financial Assistance$ 2,708,157