Notes to SEFA
Accounting Policies: The accompanying Schedule is presented using the modified accrual basis of accounting. Under the modified accrual basis, revenue is recognized if it is measurable and available for use during the year. Expenditures are recognized in the period liabilities are incurred, if measurable. The amounts reported in the Schedule have been reconciled to and are in material agreement with amounts recorded in the Organization's accounting records from which the basic financial statements were prepared.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.