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, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The
Organization’s summary of significant accounting policies is presented in Note 1 in the Organization’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10 percent de minimis indirect cost rate.