Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented such that expenditures are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, whereby certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits in the normal course of business to amounts reported as expenditures in previous years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.