Notes to SEFA
Accounting Policies: Note 1. Basis of PresentationThe Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of theOrganization under programs of the federal government for the year ended June 30, 2022. The informationin this Schedule is prepared in accordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 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 theOrganization, it is not intended to and does not present the financial position, changes in net assets, or cashflows of the Organization.Note 2. Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare 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 (UniformGuidance), wherein certain types of expenditures may or may not be allowable or may be limited as toreimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.