Notes to SEFA
Accounting Policies: Expenditures reported on the Schedules are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance andChapter 10.650, Rules of the Auditor General, wherein certain types of expenditures are not allowable orare limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Center has negotiated and received a federally approved indirect rate of 31.10% with its cognizantagency. When a contract is subjected to legislative limitations on administrative/indirect cost by thefunding source, it is not eligible for the federally approved indirect rate and the Center therefore appliesthe indirect cost rate in accordance with the limitations.