Notes to SEFA
Accounting Policies: 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. Therefore, the amount of expenditures presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The Schedule includes a portion of allocated costs from a federally approved indirect cost plan. The rate approved for RCMA for the year ended June 30, 2022 is 15% of salaries. The rate is considered a provisional rate which is used when a final, predetermined or fixed rate has notbeen established for a guarantee. Although the approved rate for RCMA is 15%, not all grants pay this percentage. Grants not using the predetermined rate did not elect to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.