Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) has been prepared on the accrual basis of accounting. Grant revenues are recorded for financial reporting purposes when the Center has met the qualifications for the respective grants. Costs incurred in programs partially funded by federal grants are applied against federal grant funds to the extent of revenue available when they are properly applied to the grant.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.