Notes to SEFA
Title: Basis of Accounting
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 Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the the 10-percent de minimis indirect cost rate allowed by Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes Federal grant activity of the Organization under programs of the Federal government for the year ended December 31, 2023. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Since the Schedule presents only a selected portion of the operation of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.