Notes to SEFA
Accounting Policies: The expenditures are reported on the Schedule of Federal Expenditures on the modified accrual basis of accounting. The expenditures are recognized follwoing the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of busines 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.