Notes to SEFA
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Organization under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of the 2 CFR 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a portion of the operation of the Organization, it is not intended to and does not present the financial position, changes in net assets, and cash flows of the Organization. For purposes of the Schedule, Federal awards include all grants, contracts, and similar agreements entered into directly between the Organization and agencies and departments of the Federal Government and all subawards made to the Organization by non-Federal organizations pursuant to Federal grants, contracts, and similar agreements. Basis of Accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.