Notes to SEFA
Title: RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: The information is presented on the accrual basis of accounting. 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).
De Minimis Rate Used: N
Rate Explanation: The School has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal grant revenue is reported in the School’s financial statements as follows:
Federal grants revenue per financial statements $ 2,067,338
Less other federal receipts (5,684)
Total federal assistance $ 2,061,654