Notes to SEFA
Title: Expenditures
Accounting Policies: The schedule of expenditures of federal awards includes all federal grant activity of Morrison and is presented using the accrual basis of accounting in accordance with U.S. GAAP.
De Minimis Rate Used: N
Rate Explanation: Morrison did not use the 10% de minimis cost rate
Expenditures reported on the SEFA are recognized following cost principles in Uniform Guidance, wherin certain types of expeditures are not allowable or are limited as to reimbursement.