Notes to SEFA
Accounting Policies: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported in 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 expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: ILRF elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.