Notes to SEFA
Accounting Policies: 1. Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (SEFA) includes all federal grant activity of CODA, Inc. (CODA). The information in the SEFA 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 SEFA presents only a selected portion of the operations of CODA, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of CODA. Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.Pass-through entity identifying numbers are presented when available.2. ExpendituresExpenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.