Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: See Form
De Minimis Rate Used: N
Rate Explanation: Not Used
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Pennsylvania Pharmacists Association, Inc. 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of Pennsylvania Pharmacists Association, Inc., it is not intended to and does not present the assets, liabilities, or changes in net assets of Pennsylvania Pharmacists Association, Inc.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: See Form
De Minimis Rate Used: N
Rate Explanation: Not Used
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: DE MINIMUS RATE FOR INDIRECT COSTS
Accounting Policies: See Form
De Minimis Rate Used: N
Rate Explanation: Not Used
The Association did not elect to use the de minimus rate for indirect costs.