Notes to SEFA
Accounting Policies: Note 1 - Significant Accounting Policies The accompanying schedule of expenditures of federal awards and state financial assistance is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards and the State of Florida Chapter 10.650, Rules of the Auditor General . Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Note 2 - Contingency Amounts received or receivable from grantor agencies are subject to audit and adjustment by those agencies. Any disallowed claims, including amounts already received, might constitute a liability of the Agency for the return of those funds. In the opinion of management, all grant expenditures were in compliance with the terms of the grant agreements and applicable federal and state laws and regulations.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.