Notes to SEFA
Title: OTHER INFORMATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Agency and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Association did not elect the federal 10% de minimis indirect cost rate.
The Association did not receive any federal insurance or federal noncash assistance and did not provide any amounts to sub-recipients and had no outstanding loans or loan guarantees with continuing compliance requirements.