Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of the Council under programs of the federal government for the year ended June 30,
2023. 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 the Council, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of the Council.
De Minimis Rate Used: N
Rate Explanation: The
Council calculates indirect rates in accordance with the Uniform Guidance and has not elected to
use the 10% de minimis cost rate. Pass-through entity identifying numbers are presented where
available.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of the Council under programs of the federal government for the year ended June 30,
2023. 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 the Council, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of the Council.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of the Council under programs of the federal government for the year ended June 30,
2023. 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 the Council, it is not intended to and
does not present the financial position, changes in net assets, or cash flows of the Council.
De Minimis Rate Used: N
Rate Explanation: The
Council calculates indirect rates in accordance with the Uniform Guidance and has not elected to
use the 10% de minimis cost rate. Pass-through entity identifying numbers are presented where
available.
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. The
Council calculates indirect rates in accordance with the Uniform Guidance and has not elected to
use the 10% de minimis cost rate. Pass-through entity identifying numbers are presented where
available.