Notes to SEFA
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: modified accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: The entity has not
elected to use the ten percent de minimus indirect cost rate as allowed under Uniform Guidance, due to the fact that
they already have a negotiated indirect cost rate with Oregon Department of Education, and thus is not allowed to use
the de minimus rate.
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Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are
not allowed or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in prior years. The entity has not
elected to use the ten percent de minimus indirect cost rate as allowed under Uniform Guidance, due to the fact that
they already have a negotiated indirect cost rate with Oregon Department of Education, and thus is not allowed to use
the de minimus rate.