Notes to SEFA
Accounting Policies: Note A: Basis of PresentationThe accompanying schedule of expenditures of federal awards (the "Schedule") includes thefederal award activity of Northeastern State University under programs of the federal governmentfor the year ended June 30, 2017. The information in this Schedule is presented in accordancewith the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Because the Schedule presents only a selected portion of the operations ofNortheastern State University, it is not intended to and does not present the financial position,changes in net assets, or cash flows of Northeastern State University.Notes B: Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the (identify basis of accounting) basis ofaccounting. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. Northeastern State has elected not to use the 10-percent de minimis indirect costrate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.