Notes to SEFA
Accounting Policies: NOTE 1.BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal grant activity of Region V Systems and is presented on the accrual basis of accounting. The in-formation in this schedule is 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 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.NOTE 2.INDIRECT COST RATERegion V Systems has elected not to use the 10.00% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.