Notes to SEFA
Accounting Policies: 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (SEFA) includes thefederal award activity of the Organization under the programs of the federal governmentfor the year ended December 31, 2022. The information in the SEFA is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Because the SEFA presents only a selectedportion of the operations of the Organization, it is not intended to, and does not, presentthe financial position, changes in net assets, or cash flows of the Organization.2. Summary of Significant Accounting PoliciesExpenditures reported on the SEFA are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the UniformGuidance, where certain types of expenditures are not allowable or are limited as toreimbursement.3. Indirect Cost RateThe Organization records its expenditures of federal awards using the indirect cost andfringe benefit rate per the non-profit rate agreement with the federal government, whichwas approved in accordance with the authority of the Uniform Guidance. In this manner,the Organization has elected not to use the 10% de minimis indirect cost rate, as allowedunder the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.