Notes to SEFA
Title: Note (1)
Accounting Policies: This schedule of expenditures of federal awards includes all federal grants received by the entity which had activity during the year ended June 30,2023. This schedule has been prepared on the accrual basis of acconting and in accordance with the Uniform Guidance. The Seminary has elected not to use the 10 deminimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: No indirect cost expenses allocate to federal awards.
This schedule of expenditures of federal awards includes all federal grants received by the entity which had activity during the year ended June 30,2023. This schedule has been prepared on the accrual basis of acconting and in accordance with the Uniform Guidance. The Seminary has elected not to use the 10 deminimis indirect cost rate.