Notes to SEFA
Accounting Policies: 1. BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes federal grant activity of the Organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the U.S. Office of Management and Budget (OMB) Compliance Supplement. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Compliance Supplement, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass through entity identifying numbers are presented where available. 3. INDIRECT COST RATE The Organization did not elect to use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.