Notes to SEFA
Accounting Policies: Expenditures reported in the SEFSA are presented 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.
De Minimis Rate Used: N
Rate Explanation: Young Men’s Christian Association of Western North Carolina, Inc.as elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.