Notes to SEFA
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COSTS PRINCIPLES CONTAINED IN THE UNIFORM GUIDANCE AND OMB CIRCULAR A-122 COST PRINCIPLES FOR NON-PROFIT ORGANIZATIONS WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWED OR ARE LIMITED TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: APPALACHIAN AGENCY FOR SENIOR CITIZENS HAS ELECTED NOT TO USE THE 10% DE MINIMUS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.