Notes to SEFA
Title: Subrecipients
Accounting Policies: The schedule of expenditures of federal awards is a summary of the Departments federal award programs presented on the modified accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America. The information in the schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures reported on the schedule of expenditures of federal awards are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The Department allocates certain indirect expenses to its programs based on a negotiated indirect cost rate subject to limitations imposed by individual granting agencies. In this manner, the Department has not elected to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.
Of the expenditures presented in the schedule, the Department did not provide any awards to subrecipients.
Title: Outstanding Federal Loans
Accounting Policies: The schedule of expenditures of federal awards is a summary of the Departments federal award programs presented on the modified accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America. The information in the schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures reported on the schedule of expenditures of federal awards are reported on the modified 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The Department allocates certain indirect expenses to its programs based on a negotiated indirect cost rate subject to limitations imposed by individual granting agencies. In this manner, the Department has not elected to use the 10% de minimis indirect cost rate, which is allowed in accordance with the Uniform Guidance.
The Department has no federal loan obligations as of September 30, 2022.