Notes to SEFA
Accounting Policies: Expenditures reported on the schedule of expenditure of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Community Access Network Non Profit Corporation has elected to not use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.