Notes to SEFA
Title: NOTE B: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the schedule are on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited to reimbursements.
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures reported on the schedule are on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited to reimbursements.
Title: NOTE B: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the schedule are on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited to reimbursements.
De Minimis Rate Used: N
Rate Explanation: N/A
St. Columbus Development Corporation, Inc. dba Sister Thea Bowman Manor has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.