Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal and other governmental awards (the schedule) includes the
federal and other governmental award activity of the Organization under programs of federal, state and local
governments for the year ended June 30, 2023. The information in this schedule is presented in accordance with
the requirements Title 2 U.S. Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents
only a selected portion of the operations of the Organization, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of the Organization. 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: The Organization utilized a provisionally approved negotiated indirect cost rate of 18.26% for the year ended
June 30, 2023.