Notes to SEFA
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The entity has not elected to use the ten percent de minimus indirect cost rate as
allowed under Uniform Guidance, due to the fact that they already have a negotiated indirect cost rate with
Oregon Department of Education, and thus is not allowed to use the de minimus rate.
Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain
types of expenditures are not allowed or are limited as to reimbursement. Negative amounts shown on the
schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. The entity has not elected to use the ten percent de minimus indirect cost rate as
allowed under Uniform Guidance, due to the fact that they already have a negotiated indirect cost rate with
Oregon Department of Education, and thus is not allowed to use the de minimus rate.