Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting as described in Note 1 of the accompanying Notes to the Financial Statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. All federal awards PureView received are considered conditional grants and therefore revenue is recognized when qualifying expenses have been incurred. The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of PureView as described in Note 1 of the accompanying Notes to the Financial Statements. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of PureView, it is not intended to and does not present the financial position, changes in net assets, or cash flows of PureView.
De Minimis Rate Used: N
Rate Explanation: Subject to the terms of individual grant awards, indirect costs are generally charged to federal grants using a negotiated rate. Therefore, PureView has not elected to use the de minimis rate of 10% provided for by 2 CFR 200.414(f).