Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on this schedule are presented using accrual basis of accounting as described in the Note 2 of the Organization’s basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures may or may not be allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Auditee did not use the de minimis cost rate.
Expenditures reported on this schedule are presented using accrual basis of accounting as described in the Note 2 of the Organization’s basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures may or may not be allowable or are limited as to reimbursement.