Notes to SEFA
Accounting Policies: Basis of Accounting The accompanying Schedule is presented using the accrual basis of accounting. The amounts reported as federal expenditures were obtained from appropriate financial reports for the applicable program and periods. The amounts reported in thesefinancial reports are prepared from records maintained for each program. These records are periodically reconciled to the general ledger, which is the source of supporting data for the Councils financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate as allowed and uses the overhead allocation rate provided by the specific contracts for the program.