Notes to SEFA
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. Such expenditures are recognized following, as applicable, either the cost principles of OMB Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. For purposes of charging indirect costs to deferral awards, the Organization has not elected to use the 10 percent de minimis cost rate as permitted by section 200.414 of the Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: For purposes of charging indirect costs to deferral awards, the Organization has not elected to use the 10 percent de minimis cost rate as permitted by section 200.414 of the Audit Requirements for Federal Awards (Uniform Guidance).