Notes to SEFA
Accounting Policies: The accompanying Schedule includes the federal grant activity of the Agency and is presented in accordance with accounting principles generally accepted in the United States of America. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The information in this schedule is presented in accordance with the requirements of the OMB Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Agency elected not to use the 10% de minimis indirect cost rate as covered in 2 CFR ?200.414. Uniform Guidance, ?200.510(6), requires the Agency to disclose whether or not it elected to use the 10% de minimis cost rate that ?200.414(f) allows for nonfederal entities that have never received a negotiated cost rate.