Notes to SEFA
Accounting Policies: Expenditures reported in the SEFSA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and State Single Audit Implementation Act, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.