Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Composite Collaborative Solutions Corporation uses indirect cost rates as approved by the Department of Energy. The approved provisional fringe rate was 41.4%, the facilities rate was 12.56%, the administration rate was 14.33%, and the Subcontract/Material Handling rate was 5.35% for the year ended June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. See rate above used approved by Department of Energy.