Notes to SEFA
Accounting Policies: 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, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The El-Ada, Inc. Community Action Partnership’s summary of significant accounting policies is presented in Note 1 in the Organization’s basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: El-Ada, Inc. Community Action Partnership has elected to use the 10 percent de-minimis indirect cost rate.