Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: NONE
De Minimis Rate Used: N
Rate Explanation: National Asian Pacific Center on Aging has a negotiated indirect cost rate for use on Federal grants and contracts. For the year ending June 30, 2023, the predetermined rate was 10.04% based on total
modified direct costs.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of
National Asian Pacific Center on Aging 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 (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.