Notes to SEFA
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of the New York Rural Water Association, Inc. under programs of the federal government for the year ended April 30, 2022. The information in the Schedule is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. 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. Indirect costs may be included in the reported expenditures, to the extent that they are included in the federal financial reports used as the source of data presented.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.