Notes to SEFA
Title: BASIS OF ACCOUNTING
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in OMB Title 2 U.S. Code of
Federal Regulations, (CFR) Part 200, Uniform Administrative Requirements, Cost Principals, and Audit
Requirements of Federal Awards, Circular A-122, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards includes the federal grant activities
of the Project and is presented on the accrual basis of accounting. The information in the schedule
is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations 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 Project, it is not intended to and does not present the financial position, changes
in net assets or cash flows of the Project.
Title: FEDERAL INDIRECT COST RATE
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in OMB Title 2 U.S. Code of
Federal Regulations, (CFR) Part 200, Uniform Administrative Requirements, Cost Principals, and Audit
Requirements of Federal Awards, Circular A-122, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: N/A
The Project has elected not to use the 10 percent de minimus indirect cost rate as allowed under
the Uniform Guidance.