Notes to SEFA
Title: Noncash federal assistance
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidnace, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Commission did not receive any noncash federal assistance for the year ended June 30, 2023.