Notes to SEFA
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 and/or OMB Circular A-122, Cost Principles
for Non-profit Organization, wherein certain types of expenditures are not
allowable or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: ICOHS College, Inc. has elected not to use the 10 percent de minimis indirect
cost rate as allowed under the Uniform Guidance.