Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, whichis described in Note A to the Organizations financial statements. Such expenditures arerecognized following, as applicable, the cost principles contained in Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards, wherein certain types of expenditures may or maynot be allowable or may be limited as to reimbursement. The Organization has elected not touse the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.Pass-through entities, where applicable, have been identified in the Schedule.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.