Notes to SEFA
Title: Sub-recipients
Accounting Policies: Expenditures reported on the Schedule are reported 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Did not use de minimus cost rate
Of the federal expenditures presented in the Schedule, the Association provided federal awards to sub-recipients as follows: CFDA Number 12.420 Program Name Research Amount Provided to Sub-recipients $49,536
Title: Threshold for major programs
Accounting Policies: Expenditures reported on the Schedule are reported 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Did not use de minimus cost rate
The Association uses the threshold of $750,000 to determine major programs
Title: Non-cash assistance
Accounting Policies: Expenditures reported on the Schedule are reported 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Did not use de minimus cost rate
There were no awards expended in the form of non-cash assistance
Title: Indirect cost rate
Accounting Policies: Expenditures reported on the Schedule are reported 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Did not use de minimus cost rate
The Association has not elected to use the 10-percent de minimus indirect cost rate allowed under the Uniform Guidance, instead, the Association has elected to use an indirect rate negotiated and approved by the U.S. Government.
Title: Loans and loan guarantees
Accounting Policies: Expenditures reported on the Schedule are reported 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Did not use de minimus cost rate
There were no awards expended in the form of loans or loan guarantees.
Title: Insurance
Accounting Policies: Expenditures reported on the Schedule are reported 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 allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Did not use de minimus cost rate
There were no awards expended on federal insurance.