Notes to SEFA
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized
following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited
as to reimbursements. Hertford County Board of Education has elected not to use the 10-percent de minimis indirect cost rate as
allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A