Notes to SEFA
Title: Describe the significant accounting policies used in preparing the SEFA.
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in OMB CicularA-122, "Cost Principles for Non-Profit Organizations" and the cost principles contained in the Uniform Guidance. Comunidad Del Retiro (a Project of the Municipality of San Juan), has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in OMB CicularA-122, "Cost Principles for Non-Profit Organizations" and the cost principles contained in the Uniform Guidance. Comunidad Del Retiro (a Project of the Municipality of San Juan), has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Did the auditee use the de minimis cost rate?
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in OMB CicularA-122, "Cost Principles for Non-Profit Organizations" and the cost principles contained in the Uniform Guidance. Comunidad Del Retiro (a Project of the Municipality of San Juan), has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The auditee did not use the de minimis cost rate.