Notes to SEFA
Title: NOTE 1. BASIS OF PRESENTATION
Accounting Policies: NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESCash Disbursements reported on the Schedule are reported on the modified accrual basis of accounting as used in the governmentalfinancial statements. Such cash disbursements are recognized following, as applicable, either the cost principles in Office ofManagement and Budget Circular A-122, Cost Principles for Non-Profit Organizations, or the cost principles contained in Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Award, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entityidentifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of the Commissionunder programs of the federal government for the fiscal year ended June 30, 2022. The information in this Schedule is presentedin 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 (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of the Commission, it is not intended to and does not present the financial position, changes innet position or cash flows of the Commission