Notes to SEFA
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: NOTE A BASIS OF PRESENTATION: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES ALL SIGNIFICANT FEDERALLY FUNDED GRANT PROGRAMS OF THE CENTER AND HAS BEEN PREPARED ON THE ACCRUAL BASIS OF ACCOUNTING. NOTE B: VARIOUS REIMBURSEMENT PROCEDURES ARE USED FOR FEDERAL AWARDS RECEIVED BY THE CENTER. TIMING DIFFERENCES MAY OCCUR BETWEEN EXPENDITURES AND REIMBURSEMENTS DURING A YEAR. ACCRUED REVENUES AT YEAR-END REPRESENT AN EXCESS OF EXPENDITURES OVER CASH REIMBURSEMENTS RECEIVED. DEFERRED REVENUES AT YEAR-END REPRESENT AN EXCESS OF CASH RECEIVED OVER ELIGIBLE PROGRAM EXPENDITURES. GENERALLY, ACCRUED AND DEFERRED AMOUNTS CAUSED BY TIMING DIFFERENCES WILL BE REVERSED IN THE SUBSEQUENT YEAR.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.