Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal and state awards includes the federal and state grant activity of The Running Rebels Community Organization, Inc. and is reported on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance and State Single Audit Guideline. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the de minimis cost rate for direct federal awards, for which it has none. Indirect costs for pass-through entities are limited to amounts approved in grant budgets.