Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in
accordance with accounting principles generally accepted in the United States of America.
Such expenditures are recognized following the 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: The Organization has elected not to use the ten percent de minimis indirect cost rate allowed
under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) presents the federal
program activity of the Organization. The Schedule is presented on the accrual basis of
accounting. The information in the Schedule is presented in accordance with the requirements
of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because
the Schedule represents only a selected portion of the operations of the Organization, it is not
intended to and does not present the financial position, changes in net assets, or cash flows of
the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in
accordance with accounting principles generally accepted in the United States of America.
Such expenditures are recognized following the 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: The Organization has elected not to use the ten percent de minimis indirect cost rate allowed
under the Uniform Guidance.
Expenditures reported on the schedule are reported on the accrual basis of accounting in
accordance with accounting principles generally accepted in the United States of America.
Such expenditures are recognized following the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
Title: Indirect Costs
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in
accordance with accounting principles generally accepted in the United States of America.
Such expenditures are recognized following the 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: The Organization has elected not to use the ten percent de minimis indirect cost rate allowed
under the Uniform Guidance.
The Organization has elected not to use the ten percent de minimis indirect cost rate allowed
under the Uniform Guidance.