Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards.
De Minimis Rate Used: N
Rate Explanation: No indirect cost charged.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award activity of the Richmond Ambulance Authority’s (the Authority) 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 2 CFR 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 Authority, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Authority.
Title: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards.
De Minimis Rate Used: N
Rate Explanation: No indirect cost charged.
The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards.
Title: NOTE 3 INDIRECT COSTS
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards.
De Minimis Rate Used: N
Rate Explanation: No indirect cost charged.
The Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.