Notes to SEFA
Accounting Policies: The accrual basis of accounting was applied consistently across all federal awards. Recognition of federal awards-related transactions are recognized when incurred. Cost principles are reviewed and adhered to as outlined in the Uniform Guidance and classified in the accounting system to each appropriate account, and dimension, to ensure it is coded to the correct award consistently. Unallowable costs are reviewed and coded to the appropriate project dimension to ensure they are excluded from federal awards-related costs. Internal controls and segregation of duties is implemented to ensure the accuracy and reliability of the information reported.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.