Notes to SEFA
Title: Note A - Basis of Presentation
Accounting Policies: 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. The Cooperative has elected not to use the
ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Client did not use de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity
of the Cooperative and is presented on the accrual basis of accounting. The information in the 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. Therefore,
some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of,
the basic financial statements.
Title: Note B - Summary of Significant Accounting Policies
Accounting Policies: 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. The Cooperative has elected not to use the
ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Client did not use de minimis cost rate.
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. The Cooperative has elected not to use the
ten percent de minimis indirect cost rate allowed under the Uniform Guidance.