Notes to SEFA
Title: GENERAL
Accounting Policies: The Schedule of Expenditures of Federal Awards 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.) Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. marketumbrella.org has not applied for its own indirect cost rate.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal award programs of marketumbrella.org The reporting entity is defined in Note 1 to marketumbrella.org’s financial statements. All federal award programs received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the schedule.
Title: BASIS OF ACCOUNTING
Accounting Policies: The Schedule of Expenditures of Federal Awards 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.) Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. marketumbrella.org has not applied for its own indirect cost rate.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The accompanying Schedule of Expenditures of Federal Awards 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.) Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. marketumbrella.org has not applied for its own indirect cost rate.
Title: INDIRECT COST RATE
Accounting Policies: The Schedule of Expenditures of Federal Awards 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.) Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. marketumbrella.org has not applied for its own indirect cost rate.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
MUO, Inc. has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.