Notes to SEFA
Accounting Policies: The Catalog of Federal Domestic Assistance is a government-wide compendium of individual federal programs. Afive-digit program identification number (CFDA Number) is assigned to each program included in the catalog. US Community Credit Union is a cooperative association organized in accordance with the provisions of the Credit Union Act of Tennessee for the purposes of promoting thrift among, and creating a source of credit for its members. Participation in the Credit Union is limited to those individuals that qualify for membership. The field of membership is defined in the Credit Union's Charter and Bylaws. Expenditures reported on the Schedule are reported on the accrual basis of accounting. The Credit Union has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.