Notes to SEFA
Accounting Policies: NOTE 1:GENERAL The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal financial assistance programs of U.S. Highbush Blueberry Council (the "Council"). All expenditures of federal financial assistance received are included in the schedule. NOTE 2:BASIS OF ACCOUNTING The accompanying schedule of expenses of federal grant activity of the Council is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: NOTE 4:INDIRECT COST REIMBURSEMENTSThe Uniform Guidance requires that all indirect costs be charged through the use of an approved indirect cost rate. When no indirect cost rate has been approved, the Uniform Guidance allows for a one-time election to use a 10% de minimis reimbursement rate. The Council does not have an approved indirect cost rate and has yet to determine if it will elect the 10% de minimis reimbursement rate.