Notes to SEFA
Accounting Policies: Reporting EntityU.S. Apple Export Councils (USAEC) Schedule of Expenditures of Federal Awards (Schedule) includes the activityof all federal award programs administered by USAEC. USAEC is a nonprofit public benefit corporation and allfederal funds expended were for nonprofit public benefit programs.Basis of PresentationThe information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of USAEC, itis not intended to and does not present the financial position, changes in net assets, or cash flows of USAEC. USAECdid not receive federal non-cash assistance and did not participate in federal insurance or loan programs.Basis of AccountingThe expenditures for each of the federal financial assistance programs are presented in the Schedule on the accrualbasis. This is the same basis the financial statements are presented. All expenditures represent reimbursement forexpenses billed by a vendor.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.