Notes to SEFA
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported 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: OKI has elected not to use the 10 percent de minims indirect cost rate allowed under the Uniform Guidance. The Schedule reflects the application of actual fringe benefits and indirect cost rates, subject to grant or program limitations.
Expenditures reported on the Schedule are reported 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.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported 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: OKI has elected not to use the 10 percent de minims indirect cost rate allowed under the Uniform Guidance. The Schedule reflects the application of actual fringe benefits and indirect cost rates, subject to grant or program limitations.
OKI has elected not to use the 10 percent de minims indirect cost rate allowed under the Uniform Guidance. The Schedule reflects the application of actual fringe benefits and indirect cost rates, subject to grant or program limitations.