Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal award (the Schedule) includes the federal award activity of Camfield Tenants Association, Inc. (CTA) and 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of CTA, it is not intended to and does not present the financial position, results of operations, or cash flows of CTA.
De Minimis Rate Used: N
Rate Explanation: CTA has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal award (the Schedule) includes the federal award activity of Camfield Tenants Association, Inc. (CTA) and 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of CTA, it is not intended to and does not present the financial position, results of operations, or cash flows of CTA.
Title: Summary of Significant Accounting Policy
Accounting Policies: The accompanying schedule of expenditures of federal award (the Schedule) includes the federal award activity of Camfield Tenants Association, Inc. (CTA) and 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of CTA, it is not intended to and does not present the financial position, results of operations, or cash flows of CTA.
De Minimis Rate Used: N
Rate Explanation: CTA has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal award (the Schedule) includes the federal award activity of Camfield Tenants Association, Inc. (CTA) and 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of CTA, it is not intended to and does not present the financial position, results of operations, or cash flows of CTA.
De Minimis Rate Used: N
Rate Explanation: CTA has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
CTA has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.