Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards has been prepared on an accrual basis of accounting.Such expenditures are recognized following the cost principles contained in the Uniform Guidanceand also presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements/orFederal Awards for all new federal awards received on or after December 26, 2014, and for fundingincrements (additional funding on existing awards) with modified terms and conditions that areawarded on or after that date. Because the schedule of expenditures of federal awards presents onlya 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.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use a de minimis indirect cost rate as allowed under the UniformGuidance. The Organization utilizes a federally-approved indirect cost rate approved by its cognizantagency.