Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note 1. OrganizationThe Mark Twain Regional Council of Governments (the Council), is the recipient of several federal awards. All federal awards received directly from federal agencies as well as those awards that are passed through other government agencies, are included on the Schedule of Expenditures of Federal Awards.Note 2. Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal grant activity of Mark Twain Regional Council of Governments (the Council) and is presented on the accrual basis of accounting. The information presented in this schedule is in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.Note 3. Local Government ContributionsLocal cost sharing, as defined by Title 2 CFR Part 200, Subpart D, Section 200.306 is required by certain federal grants. The amount of cost sharing varies with each program. Only the federal share of expenditures is presented in the Schedule of Expenditures of Federal Awards.Note 4. Additional AuditsGrantor agencies reserve the right to conduct additional audits of the Councils grant programs for economy and efficiency and program results that may result in disallowed costs to the Council. However, management does not believe such audits would result in any disallowed costs that would be material to the Councils financial position at June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: Note 5. Indirect Cost RateExcept as otherwise noted, the Council has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Council entered into an indirect cost negotiation agreement with the Federal Government to which 2 CRF Part 200 applies subject to limitations specified in the agreement. The indirect rate for the fiscal year ended June 30, 2022 is 20%. The rate was negotiated by the U.S. Department of the Interior, Interior Business Center, and the Council in accordance with the authority contained in the applicable regulations. The Council charges all programs (federal, state and local) actual indirect costs not to exceed its negotiated indirect cost rate. The methodology for allocable indirect costs is reasonable and in accordance with Uniform Guidance regarding applicable federal agencies.
ECONOMIC ADJUSTMENT ASSISTANCE (11.307) - Balances outstanding at the end of the audit period were 7964. ECONOMIC ADJUSTMENT ASSISTANCE (11.307) - Balances outstanding at the end of the audit period were 356545.