Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The program amount reflected in the SEFA represents reimbursement not exceeding the maximum contract amount and allowable costs incurred, as well as advances for program expenditures. The expenditures reflected in the SEFA pertain to actual expenses incurred for the program. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Indirect costs represent actual cost incurred.
Explains the basis used in preparing and presenting the SEFA.
Title: Program Amount and Expenditures
Accounting Policies: The program amount reflected in the SEFA represents reimbursement not exceeding the maximum contract amount and allowable costs incurred, as well as advances for program expenditures. The expenditures reflected in the SEFA pertain to actual expenses incurred for the program. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Indirect costs represent actual cost incurred.
Explains the accounting principles used in reporting the program amount and the expenditure amount.
Title: Indirect Cost Rate
Accounting Policies: The program amount reflected in the SEFA represents reimbursement not exceeding the maximum contract amount and allowable costs incurred, as well as advances for program expenditures. The expenditures reflected in the SEFA pertain to actual expenses incurred for the program. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Indirect costs represent actual cost incurred.
Discloses that the Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Subsequent Events
Accounting Policies: The program amount reflected in the SEFA represents reimbursement not exceeding the maximum contract amount and allowable costs incurred, as well as advances for program expenditures. The expenditures reflected in the SEFA pertain to actual expenses incurred for the program. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Indirect costs represent actual cost incurred.
Discloses the subsequent events review cutoff date used in preparing the financial statements.