Notes to SEFA
Title: Note A
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the
accrual basis of accounting. Such expenditures are recognized following the cost principles
contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Advia Credit Union has elected
not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: See cell B5
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of
Advia Credit Union under programs of the federal government for the year ended June 30, 2023.
The information in the Schedule is presented in accordance with the requirements of Title 2 U.S.
Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a
selected portion of the operations of Advia Credit Union, it is not intended to and does not present the
earnings, changes in members’ equity, or cash flows of Advia Credit Union.
Title: Note B
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the
accrual basis of accounting. Such expenditures are recognized following the cost principles
contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Advia Credit Union has elected
not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: See cell B5
Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the
accrual basis of accounting. Such expenditures are recognized following the cost principles
contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Advia Credit Union has elected
not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
Title: Note C
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the
accrual basis of accounting. Such expenditures are recognized following the cost principles
contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Advia Credit Union has elected
not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: See cell B5
Major programs are identified in the Summary of Auditor’s Results section of the Schedule of
Findings and Questioned Costs.