Notes to SEFA
Accounting Policies: Expenditures are reported on the Schedule 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: ILQ, Inc. does not have indirect costs and therefore has elected to not use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance