Notes to SEFA
Title: Contingency
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, whereincertain 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.
The grant revenue amounts received are subject to audit and adjustment. If any expenditures orexpenses are disallowed by the grantor agencies as a result of such an audit, any claim forreimbursement to the grantor agencies would become a liability of the TPA. In the opinion ofmanagement, all grant expenditures are in compliance with the terms of the grant agreements andapplicable federal and state laws and other applicable regulations.