Notes to SEFA
Accounting Policies: THE ACCOMPANYING SCHEDULE OF FEDERAL AWARDS IS PRESENTED USING THE ACCRUAL BASIS OF ACCOUNTING. 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." THE AMOUNTS REPORTED IN THIS SCHEDULE AS EXPENDITURES MAY DIFFER FROM CERTAIN FINANCIAL REPORTS SUBMITTED ON EITHER A CASH OR MODIFIED ACCRUAL BASIS OF ACCOUNTING. REVENUE RECOGNITION: ALL PROGRAMS HAVE RECOGNIZED REVENUE ONLY TO THE EXTENT OF THEIR CONTRACTUAL FUNDING LIMITATIONS. EXPENDITURES EXCEEDING GRANT OR CONTRACT BUDGET LIMITATIONS ARE FUNDED FROM OTHER SOURCES. THOSE EXPENDITURES, IF ANY, ARE NOT INCLUDED IN THESE SCHEDULES.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.