Notes to SEFA
Title: Note 1
Accounting Policies: Accrual Basis of Accounting, presented in accordance with the requirements of OMB Uniform Guidance, Audits of States, Local Governments, and Non Profit Organizations. No indirect cost rates were used. The Organization has elected to not use the 10% de minimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: Actual deemed a better presentation.
1. The Schedule of Expenditures of Federal Awards includes the federal grant activity of the Organization and
Title: Note 2
Accounting Policies: Accrual Basis of Accounting, presented in accordance with the requirements of OMB Uniform Guidance, Audits of States, Local Governments, and Non Profit Organizations. No indirect cost rates were used. The Organization has elected to not use the 10% de minimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: Actual deemed a better presentation.
2. Loan and loan guarantee programs included in expenditures above totaled $4,782,727, which was the
Title: Note 3
Accounting Policies: Accrual Basis of Accounting, presented in accordance with the requirements of OMB Uniform Guidance, Audits of States, Local Governments, and Non Profit Organizations. No indirect cost rates were used. The Organization has elected to not use the 10% de minimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: Actual deemed a better presentation.
3. No Indirect cost rates were used.
Title: Note 4
Accounting Policies: Accrual Basis of Accounting, presented in accordance with the requirements of OMB Uniform Guidance, Audits of States, Local Governments, and Non Profit Organizations. No indirect cost rates were used. The Organization has elected to not use the 10% de minimus indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: Actual deemed a better presentation.
4. The Organization has elected to not use the 10% de minimus indirect cost rate.