Notes to SEFA
Title: N/A
Accounting Policies: Basis of Presentation: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Region XII Council of Governments, Inc., and is presented on the accrual basis of accounting. The information on 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 Region XII Council of Governments, Inc., it is not intended to and does not present the financial position changes in position or cash flows of Region XII Council of Governments, Inc.
Summary of Significant Accounting Policies: Expenditures reported in the Schedule are reported on the accrual or modified basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State, Local and Indian Tribe Governments, or cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Indirect Cost Rate - Region XII Council of Governments, Inc. Has elected not to use the de minimus indirect cost rate under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
N/A