Notes to SEFA
Title: Note 1. Basis of presentation
Accounting Policies: Notes included 1) Basis of Presentation, and 2) Summary of significant accounting policies
De Minimis Rate Used: N
Rate Explanation: Auditee posts costs directly to functions, i.e. program and admin.
position, changes in net assets or cash flows of the Organization.
Title: Note 2. Summary of significant accounting policies
Accounting Policies: Notes included 1) Basis of Presentation, and 2) Summary of significant accounting policies
De Minimis Rate Used: N
Rate Explanation: Auditee posts costs directly to functions, i.e. program and admin.
(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and/or OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (2) The Organization has elected not to use the 10 percent de minimus indirect cost rate as allowed under Uniform Guidance.