Notes to SEFA
Title: Note B Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule are accounted for on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where-in certain types of expenditures are not allowable or are limited as to reimbursement. Due to the grant contract agreement, the Organization can not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Due to the grant contract agreement, the Organization can not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the schedule are accounted for on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where-in certain types of expenditures are not allowable or are limited as to reimbursement. Due to the grant contract agreement, the Organization can not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note A Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are accounted for on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where-in certain types of expenditures are not allowable or are limited as to reimbursement. Due to the grant contract agreement, the Organization can not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Due to the grant contract agreement, the Organization can not elect to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grants activity of this Organization, and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the OMB 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.