Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Teche Action Board has elected not to use the 10 per cent de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Teche Action Board, Inc.,
and is presented on the accrual basis of accounting. The information on this schedule is presented in accordance with the requirements
of Title 2 of U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Certain costs have been allocated to the federal program in accordance with OMB Circular A-122,
Cost Principles of Non-Profit Organizations. The amounts presented in this schedule do not differ from the amounts presented in, or used in the preparation of the financial statements. Teche Action Board, Inc. has elected not to use the 10 percent de minimis
indirect cost rate as allowed under the Uniform Guidance.