Notes to SEFA
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Rabble Mill and is presented on the accrual basis of accounting. Grant awards are considered expended when the expense transactions associated with the grant occur. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in preparation of the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The Foundation elected to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414.