Notes to SEFA
Title: Basis of Accounting
Accounting Policies: The SEFA is prepared on the accrual basis of accounting. The information in SEFA is presented in accordance with the requirments of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Some amounts presented in SEFA may differ from amounts presented in, or used in the preparation of, the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization continues to use the cost allocation plan negotiated individually with its grantors, as applicable.
The Schedule of Expenditures of Federal Awards (Schedule) is prepared on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the general purpose financial statements.
Title: Indirect Costs
Accounting Policies: The SEFA is prepared on the accrual basis of accounting. The information in SEFA is presented in accordance with the requirments of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Some amounts presented in SEFA may differ from amounts presented in, or used in the preparation of, the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization continues to use the cost allocation plan negotiated individually with its grantors, as applicable.
Expenditures reported on the Schedule are recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance and continues to use the cost allocation plan negotiated individually with its grantors, as applicable.