Notes to SEFA
Accounting Policies: The 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: PSBHA has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Any program administration costs charged to government contracts are based uon the approved budget.