Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. For purposes of this report, certain accounting procedures were followed which help illustrate the authorizations and expenditures of the individual programs. All authorizations represent the total allotment or grant awards received. All expenses and capital outlays are reported as expenditures and transfers. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net position or cash flows of the Organization.Any Federal funds expended in excess of Federal funds received are recorded as a receivable from the grantor agency and any federal funds received in excess of federal funds expended are recorded as a payable to the grantor agency.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.