Notes to SEFA
Accounting Policies: 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (SEFA) includes thefederal award activity of the Organization under the programs of the federal governmentfor the year ended June 30, 2022. The information in the SEFA is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Because the SEFA presents only a selectedportion of the operations of the Organization, it is not intended to, and does not, presentthe financial position, changes in net assets, or cash flows of the Organization.2. Summary of Significant Accounting PoliciesExpenditures reported on the SEFA are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the UniformGuidance, where certain types of expenditures are not allowable or are limited as toreimbursement.3. Indirect Cost RatesThe Organization has elected to use the 10% de minimis indirect cost rate allowed underthe Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.