Notes to SEFA
Accounting Policies: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
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. NOTE 1 BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards includes all federal grant
activity of 8200-8300 Franklin Blvd. (Franklin Blvd.) and is prepared on the accrual basis of
accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts
presented in, or used in, the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: Franklin Blvd. has elected to not use the 10-percent de minimis indirect cost
rate as allowed under the Uniform Guidance.