Notes to SEFA
Accounting Policies: Basis of PresentationThe Schedule of Expenditures of Federal Awards (Schedule) has been prepared on the accrualbasis of accounting in accordance with accounting principles generally accepted in the United States of America. The Schedule includes the federal grant activity of SUL and is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.Sub-recipientsSUL did not make any disbursements to subrecipients during the fiscal year 2022.Non-cash AssistanceSUL did not receive any federal non-cash assistance during the fiscal year 2022.InsuranceSUL did not receive any federally-funded insurance during fiscal year 2022.LoansSUL did not have any federal loans or loan guarantees outstanding as of June 30, 2022.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.