Notes to SEFA
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. Non-monetary assistance is reported in the schedule of expenditures of federal awards at the fair market value of commodities received and used.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.