Notes to SEFA
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing, as applicable, either the cost principle in OMB Circular A-87, Cost Principles for State and Local Governments, orthe cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,Cost Principles, and Audit requirements for Federal Awards, wherein, certain types of expenditures are not allowable or arelimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.