Notes to SEFA
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amount of federal expenditures represents the amount of federal funds expended during the fiscal year ended June 30, 2022. A threshold of $750,000 was used to distinguish between Type A and Type B programs as those terms are defined in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.