Notes to SEFA
Title: NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES & NOTE 2 – INDIRECT COST ROLE
De Minimis Rate Used: N
Rate Explanation: The Ballet charged direct costs only.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Tulsa Ballet
Theatre, Inc. (the Ballet) and is presented on the accrual basis of accounting. The information in this schedule is
presented in accordance with the requirements ot Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the
preparation of the consolidated financial statements.
Title: NOTE 2 – INDIRECT COST ROLE
Accounting Policies: NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES & NOTE 2 – INDIRECT COST ROLE
De Minimis Rate Used: N
Rate Explanation: The Ballet charged direct costs only.
The Ballet has not elected to use the ten percent de minimis indirect cost rate as allowed under the Uniform
Guidance.