Notes to SEFA
Title: Relationship to Financial Statements
Accounting Policies: General
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal awards programs of Haines Borough. The information in the SEFA 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). Haines Borough's reporting entity is defined in Note 1 of Haines Borough's basic financial statements. Federal awards received directly from federal agencies or passed through agencies of the State of Alaska or other nonfederal agencies is included in the SEFA.
Basis of Accounting
Expenditures reported on the SEFA are presented using the modified-accrual basis of accounting, which is described in Note 1 of Haines Borough's basic financial statements. 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. Haines Borough has elected not to use the ten percent de-minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Haines Borough has elected not to use the ten percent de-minimis indirect cost rate as allowed under the Uniform Guidance.
The following is a reconciliation of state revenues reported in Haines Borough's financial statements to state expenditures reported in the Schedule of Expenditures of Federal Awards: As reported in the Statement of Revenues, Expenditures, and Changes in Fund Balances – Governmental Funds: Intergovernmental Revenue – Federal grants and contracts $ 4,001,904 Intergovernmental revenues – Federal payments in lieu of taxes 401,458 As reported in the Statements of Revenues, Expenses and Changes In Fund Net Position – Proprietary Funds 3,455 Less- Federal beneficial payments passed through the State of Alaska, but not subject to reporting on the Schedule of Expenditures of Federal Awards (160,040) Total federal expenditures as reported on the Schedule of Expenditures of Federal Awards $ 4,246,777