Notes to SEFA
Title: NOTE A
Accounting Policies: EXPENDITURES REPORTED ON THE SEFA ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN THE UNIFORM GUIDANCE AND/OR OMB CIRCULAR A-112, COST PRINCIPLES FOR NON-PROFIT ORGANIZATIONS, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: PROJECT CELEBRATION HAS ELECTED NOT TO USE THE 10% DE MINIMIS COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDED THE FEDERAL GRANT ACTIVITY OF PROJECT CELEBRATION, INC. UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED JUNE 30, 2023. THE INFORMATION IN THIS 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).