Notes to SEFA
Title: BASIS OF PRSENTATION
Accounting Policies: See Form
De Minimis Rate Used: Y
Rate Explanation: See Form
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Consortium, it is not intended to and does not present the financial position, change in net assets or cash flows of the Consortium.
Title: SUMMARY OF SIGNIFICANT POLICIES
Accounting Policies: See Form
De Minimis Rate Used: Y
Rate Explanation: See Form
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, werein certain types of expenditures are not allowable or are limited as to reimbursement. 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.
Title: INDIRECT COST RATE
Accounting Policies: See Form
De Minimis Rate Used: Y
Rate Explanation: See Form
The Consortium has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance or the rate approved by the funder.