Notes to SEFA
Accounting Policies: 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 from the Office of Management and Budget (Uniform Guidance).The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Company and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Company has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. For all sponsored programs where indirect costs are allowed to be claimed, the rates approved by the Company’s cognizant agency were used.