Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Accrual basis
De Minimis Rate Used: N
Rate Explanation: N/;A
The SEFA summarized the expenditures of Quinco under programs of the federal and state governments for the year ended June 30, 2003. The schedule is presented using the accrual basis of accoutning.
Title: indirect Cost Rate
Accounting Policies: Accrual basis
De Minimis Rate Used: N
Rate Explanation: N/;A
Quinco has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.