Notes to SEFA
Accounting Policies: A. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-87, Cost Principles for State and Local Government or those contained in the Uniform Guidance, as applicable, wherein certain types of expenditures are not allowable or are limited as to reimbursement. B. Negative amounts, if any, shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. C. Pass-through entity identifying numbers are presented where available. D. The agency has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. E. DTOP basis of accounting for federal fund programs is the same used for Schedule of Cash Receipts and Disbursement Activities, since cash receipts and disbursement are recognized when received and paid, as applicable. DTOP manages such funds through the Department of Treasury. However, DTOP may keep additional bookkeeping to comply with accrual accounting for federal reporting requirements.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the ten percent de minimis indirect cost rate as allowed by the Uniform Guidance.