Notes to SEFA
Title: Note 1 – 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.
De Minimis Rate Used: N
Rate Explanation: The Organizations have elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
The accompanying schedule of expenditures of Federal and state awards (the “Schedule”) includes
the Federal and state grant activity of OneStar National Service Commission, Inc. and OneStar
Foundation, Inc. (the “Organizations”) and is presented on the accrual basis of accounting. The
information in this schedule is presented in accordance with the requirements of Title 2 U.S Code
of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only
a selected portion of the operations of the Organizations, it is not intended to and does not present
the financial position, changes in net assets, or cash flows of the Organizations.
Title: Note 2 – 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.
De Minimis Rate Used: N
Rate Explanation: The Organizations have elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
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.
Title: Note 3 – Indirect Cost Rate
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.
De Minimis Rate Used: N
Rate Explanation: The Organizations have elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.
The Organizations have elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.