Notes to SEFA
Accounting Policies: A. The schedule of expenditures of federal awards includes the federal award activity of Interstate Renewable Energy Council, Inc., which is only a selected portion of the operations. It is not inteded to and does not present the financial position, changes in net assets, or cash flows. B. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The indirect cost rates are set by the individual grantors.