Notes to SEFA
Title: Note 2 - Relationship to Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the National Association of State Mental Health Program Directors (the "Association") and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Association has elected not to use the 10% de minimis indirect cost rate.
The Association records award revenues at approved provisional rates. Expenditures are recorded using actual allowable and allocable costs. Billings may be adjusted upon final approval of allowable and allocable costs incurred. Management does not believe that the accompanying financial statements will be materially affected by any adjustments that may result from government review of actual rates.