Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following cost principles contained in Uniform Guidance, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: For purposes of charging indirect costs to federal awards, the Mt. Pleasant Housing Commission has elected not to
use the 10 percent de minimis cost rate as permitted by 2 CFR section 200.414 of the Uniform Guidance.