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 allowable orare limited as to reimbursement.The financial statements include accounts receivable from federal programs. These receivables are recorded according tothe same basis of accounting as the financial statements. These receivables reflect federal awards that have been expendedby year end and not yet reimbursed.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.