Notes to SEFA
Title: PROGRAM INCOME
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting, which is acomprehensive basis of accounting other than accounting principles generally accepted in the United States ofAmerica. 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. Negative amountsshown on the Schedule represent adjustments or credits made in the normal course of business to amountsreported as expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Program income generated as a result of grant funds totalled $34,729 for the fiscal year ended June 30, 2022.