Notes to SEFA
Title: NOTE 1—BASIS OF PRESENTATION AND ACCOUNTING
Accounting Policies: NOTE 1—BASIS OF PRESENTATION AND ACCOUNTING The accompanying Schedule of Expenditures of Federal Awards includes expenditures related to the direct and indirect federal grants of the Organization and is presented on the accrual basis of accounting. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Per the grant agreement, the Grantee will not use an indirect cost rate to charge its indirect costs to the grant.
The accompanying Schedule of Expenditures of Federal Awards includes expenditures related to the direct and indirect federal grants of the Organization and is presented on the accrual basis of accounting. The information is presented in accordance with the requirements of the Uniform Guidance.
Title: NOTE 2— RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: NOTE 1—BASIS OF PRESENTATION AND ACCOUNTING The accompanying Schedule of Expenditures of Federal Awards includes expenditures related to the direct and indirect federal grants of the Organization and is presented on the accrual basis of accounting. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Per the grant agreement, the Grantee will not use an indirect cost rate to charge its indirect costs to the grant.
Federal award expenditures are capital in nature and are included on the statement of financial position as property and equipment. Some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
Title: NOTE 3— FEDERAL INDIRECT RATE
Accounting Policies: NOTE 1—BASIS OF PRESENTATION AND ACCOUNTING The accompanying Schedule of Expenditures of Federal Awards includes expenditures related to the direct and indirect federal grants of the Organization and is presented on the accrual basis of accounting. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Per the grant agreement, the Grantee will not use an indirect cost rate to charge its indirect costs to the grant.
The School has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 4—AWARDS EXPENDED IN PRIOR YEARS
Accounting Policies: NOTE 1—BASIS OF PRESENTATION AND ACCOUNTING The accompanying Schedule of Expenditures of Federal Awards includes expenditures related to the direct and indirect federal grants of the Organization and is presented on the accrual basis of accounting. The information is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Per the grant agreement, the Grantee will not use an indirect cost rate to charge its indirect costs to the grant.
Federal award expenditures for amounts incurred in prior years totaled $80,527.