Notes to SEFA
Accounting Policies: (1) GENERAL INFORMATION
The accompanying schedule of expenditures of federal awards presents the activities in all the federal financial assistance programs of Christina Cultural Arts Center, Inc. All financial assistance received directly from federal agencies, as well as financial assistance passed through other governmental agencies or nonprofit organizations, if any, are included on the schedule.
(2) BASIS OF ACCOUNTING
The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Christina Cultural Arts Center, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.