Notes to SEFA
Accounting Policies: Basis of Accounting - Accompanying schedule of federal awards is presented on the accrual basis of accounting. Consequently, amounts are recorded as expenditures when the obligations are incurred. Federal expenditures were recognized following the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations, or Title 2, U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: ASTC has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance as ASTC already has a negotiated indirect cost rate with the federal government.