Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: Summary of Significant Accounting Policies
De Minimis Rate Used: N
Rate Explanation: Not Applicable
Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards includes all significant federally funded grant programs of the Organization and has been preparaed on the accrual basis of accounting. Accrued and Deferred Reimbursement: Various reimbursement procedures are used for Federal awards received by the Organization. Timing differences may occur between expenditures and reimbursements during a year. Accrued revenues at year-end represent an excess of expenditures over cash reimbursements received. Deferred revenues at year-end reresent an excess of cash received over eligible program expenditures. Generally, accrued and deferred amounts caused by timing differences will be reversed in the subsequent year. Source Code: I - Indirect funding, D - Direct funding