Notes to SEFA
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: ACCURAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: The Center did not elect to use the 10% de minimis indirect cost rate
The accompanying Schedule of Expenditures of Federal Awards includes all significant federally funded grant programs and has been prepared on the accrual basis of accounting
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: ACCURAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: The Center did not elect to use the 10% de minimis indirect cost rate
Various reimbursement procedures are used for Federal Awards received by Scranton Primary Health Care Center Inc. Timing differences may occur between expenses and reimbursements during a year. Accrued Revenues at year end represent excess of expenses over cash reimbursements received. Deferred Revenues at year end represent excess of cash received over eligible program expenses. Generally, accrued and deferred amounts caused by timing differences will be reversed in the subsequent year