Notes to SEFA
Accounting Policies: Basis of Presentation. The accompanying schedule of federal awards includes the federal grant activity ofNebraska Community Foundation and is presented on the accrual basis of accounting. The information in thisschedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amountspresented in this schedule may differ from amounts presented in, or used in preparation of, the consolidatedfinancial statements. Federal expenditures are considered to have occurred when the expense transactionsassociated with the grant occur, including expenses paid with program income funds. Program income isrecognized when received.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.