Notes to SEFA
Title: Note 1 - Basis of Accounting
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Organization’s financial statements. The Organization uses the accrual basis of accounting. Expenditures represent only the federally funded portions of the program.
De Minimis Rate Used: N
Rate Explanation: Only direct costs used.
The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Organization’s financial statements. The Organization uses the accrual basis of accounting. Expenditures represent only the federally funded portions of the program. Organization records should be consulted to determine amounts expended or matched from non-federal sources. The Organization has elected not to use the 10% de minimum indirect cost rate as allowed under the Uniform Guidance.
Title: Note 2 - Program Costs/Matching Contributions
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Organization’s financial statements. The Organization uses the accrual basis of accounting. Expenditures represent only the federally funded portions of the program.
De Minimis Rate Used: N
Rate Explanation: Only direct costs used.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs may be more than shown.