Notes to SEFA
Accounting Policies: Note 1: Basis of PresentationThe schedule of expenditures of federal awards is presented on the accrual basis of accounting. Theinformation in this schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance).Note 2: NonCash Assistance, Insurance, and LoansThe Organization did not receive or expend any Federal awards in the form of noncash assistance,insurance, loans, or loan guarantees.Note 3: Indirect Cost RateThe Organization has not elected to use the 10% de minimis indirect cost rate provisioned by the UniformGuidance Section 414, for reporting costs charged to federal award programs.Note 4: SubrecipientsThe Organization did not provide any federally sourced funding to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.