Notes to SEFA
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards and state financial assistance are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and NJ 15-08-OMB, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: UWGUC does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimus cost rate as covered in section 200.414 in the Uniform Guidance