Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowableor are limited as to reimbursement. Negative amounts, if any, shown on the Schedule represent adjustments or creditsmade in the normal course of business to amounts reported as expenditures in prior years. The Organization has electedto use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The Organization did not have anyFederal loan programs during the year ended August 31, 2022.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.