Notes to SEFA
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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: Y
Rate Explanation: Townhall II, Inc. has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance on grants which allow an indirect cost rate.
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: 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: Y
Rate Explanation: Townhall II, Inc. has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance on grants which allow an indirect cost rate.
Townhall II, Inc. has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance on grants which allow an indirect cost rate.