Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of the Charter Holder. The information in the SEFA is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the SEFA may differ from amounts presented or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Charter Holder has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.