Notes to SEFA
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reportedon the accrual basis of accounting in accordance with accounting principles generallyaccepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The indirect cost rate applied to grant reimbursement sources has been agreed to by grantor agencies based on prior cost experience and may result in an excess or deficit of actual indirect expenses annually. For purposes of charging indirect costs to federal awards, the Agency has elected to use the 10 percent de minimis cost rate as permitted by section 200.414 of the Uniform Guidance.