Notes to SEFA
Title: SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: THE SEFA WAS PREPARED FROM THE ACTUAL FEDERAL AWARDS EXPENDED. THESE EXPENDITURES ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. THE EXPENDITURES ARE RECOGNIZED FOLLOWING COST PRINCIPLES CONTAINED IN 2 CFR 200, SUBPART E (COST PRINCIPLES)
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE DE MINIMIS COST RATE
ACCRUAL METHOD OF ACCOUNTING IS USED
Title: DE MINIMIS COST RATE
Accounting Policies: THE SEFA WAS PREPARED FROM THE ACTUAL FEDERAL AWARDS EXPENDED. THESE EXPENDITURES ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. THE EXPENDITURES ARE RECOGNIZED FOLLOWING COST PRINCIPLES CONTAINED IN 2 CFR 200, SUBPART E (COST PRINCIPLES)
De Minimis Rate Used: Y
Rate Explanation: THE AUDITEE USED THE DE MINIMIS COST RATE
10% DE MINIMIS COST RATE IS USED