Notes to SEFA
Accounting Policies: 1. General - The accompany schedule of expenditures of federal awards (Schedule) presents the actiity of all federal award programs of the Organization for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administratie Requiremnts, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected potion of the operations of the Organziation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization . 2. Basis of Accounting - The accompanying chedule of expenditures of federal awards is presented using the accrual basis of accounting which is described in Note 2 to the financial statements. 3. Administration Expenses and Cost Allocation Plan - The Organization has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance. 4. Relationship to Consolidated Financial Statements - Expenditures of federal awards are reported as incurred. They are included in the consoldate financial statements as expenses in the various classifications.
De Minimis Rate Used: N
Rate Explanation: The Organization did not uses the de minimis rate. Costs are allocated to programs as incurred; administrative costs are allocated in a fair and equitable manner