Notes to SEFA
Title: Note 3: Subrecipients, Non Cash Assistance, and Federal Insurance
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: The auditiee did not use the de minimis cost rate.
Of the federal expenditures presented in the schedule, the Commission provided no federal awards to sub0recipients and received not non-cash assistance or federal insurance.