Notes to SEFA
Accounting Policies: 1.The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Network. The Schedule includes federally funded amounts of pass-through awards received by the Network through the State of Colorado. The information this schedule is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule represents only a selected portion of the operations of the Network, it is not intended to and does not present the financial position, changes in position or cash flows of the Network. 2.Amounts reported in the Schedule are recognized on the modified accrual basis when they become a demand on current available federal resources and eligibility requirements are met. Such expenditures are recognized following, as applicable, either the cost principal contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards wherein certain types of expenditures are not allowable or are limited as to reimbursements. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of, the basic financial statements or reports to federal agencies and pass-through grantors. The Network has elected not to use the de minimis 10 percent indirect cost rate allowed under the Uniform Guidance. 3.During the year ended June 30, 2022, the Network did not pass through any federal funds to subrecipients. 4.For federal awards expended by the Network as a subrecipient, the Schedule includes identification of the pass-through grantor and the identifying number assigned to the grant by the pass-through grantor.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.