Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 2 CFR 200.510(b)(6)
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of the Pacific School of Religion under programs of the federal government for the year ended
June 30, 2023. The information in this Schedule 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). Because the schedule presents only a
selected portion of the operations of the School it is not intended to and does not present the financial
position, changes in net position or cash flows of the School.
Title: Summary of Significant Accounting Policies
Accounting Policies: 2 CFR 200.510(b)(6)
De Minimis Rate Used: N
Rate Explanation: N/A
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.
Title: Indirect Cost Rate
Accounting Policies: 2 CFR 200.510(b)(6)
De Minimis Rate Used: N
Rate Explanation: N/A
Pacific School of Religion has elected not to use the 10 percent de minimis indirect cost rate allowed
under the Uniform Guidance.