Notes to SEFA
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.
Salaries are charged to the program at the actual pay rates for the hours worked by employees on the program based on timesheets prepared by the employees and approved by their supervisors. The costs are charged to the program as incurred for each pay period.
Materials and supplies purchased for the program are recorded at cost
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis cost rate allowed under the Uniform Guidance.