Notes to SEFA
Accounting Policies: The schedule includes the Federal awards activity of Joint Initiatives and is presented on the accrual
basis of accounting. The information in this schedule is presented in accordance with the
requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative
Requirements, Cost Principles and Audit Requirements for Federal Awards. Therefore, some
amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.