Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures arenot allowable or are limited as to reimbursement. Passthrough entity identifying numbers are presented whereavailable. Of the federal expenditures presented in the Schedule, none were provided to subrecipients. The School didnot elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.