Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the cost principles contained in Uniform Guidance, wherein certain types of expenditures are now allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The organization has not elected to use the 10-percent de minimis cost rate as allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (“the Schedule") includes the federal award activity of the Organization for the year ended June 30, 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 Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization. The amounts reported on the schedule have been reconciled to and are in agreement with amounts recorded in the accounting records from which the financial statements have been reported.