Notes to SEFA
Accounting Policies: The Schedule of Expenditures of Federal Awards is presented using 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: HCHK, Inc. has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.