Notes to SEFA
Accounting Policies: Basis of Presentation. The accompanying schedule of federal awards includes federal grant activity of Nebraska Children and Families Foundation 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 the preparation of the basic financial statements, Subrecipients. The Foundation provided federal awards to subrecipients as detailed above.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.