Notes to SEFA
Accounting Policies: Expenditures reported on the SEFA are reported on the modified accrual basis of accounting. Expenditures are recognized following cost principles contained in the Uniform Guidance and/or OMB Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee elected not to use the de minimis cost rate.