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.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance since the Corporation is a single purpose entity that only incurs costs based on the reasonable and necessary costs for one single project.