Notes to SEFA
Accounting Policies: The SEFA is presented using the accrual basis of account for assistance received. Expenditures are recongnized following the cost principles in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Auditee has elected not to use the 10 percent de minimis indirect cost rate.