Notes to SEFA
Title: summary of Significant Accounting Policies
Accounting Policies: Summary of Significant Accounting Policies - Expenditures reported in the Schedule are reported on the accrual or modified accrual basis of accounting, except for revolving loan fund transaction (Economic Adjustment Assistance, CFDA 11.307), as explained above. Such expenditures are recognized following, the cost principles contained in t he Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures reported in the Schedule are reported on the accrual or modified accrual basis of accounting, except for revolving loan fund transactions (Economic Adjustment Assistance, CFDA 11.307), as explained above. Such expenditures are recognized following, the cost principles contained in th e Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.