Notes to SEFA
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal grant activity of the Organization, under programs of the federal government for theyear ended June 30, 2022. The information in the schedule is presented in accordance withthe requirements of the requirements of Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirement, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the schedule presents only a selected portion of theoperations of the Organization, it is not intended to and does not present the financialposition, changes in net assets or cash flows of the Organization.NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the UniformGuidance, wherein certain
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.