Notes to SEFA
Accounting Policies: The policies and presentation of the Schedule of Expenditures of Federal Awards of Southern Alabama AHEC have been designed to conform to generally accepted accounting principles as applicable to voluntary health and welfare agencies, including the reporting and compliance requirements of the Audits of States, Local Governments, and Non-Profit Organizations and Office of Management and Budget Uniform Guidance.
The accrual basis of accounting is followed in the Schedule of Expenditures of Federal Awards. Under the accrual basis, revenues are recognized when they become earned. Expenses generally are recorded when a liability is incurred.
De Minimis Rate Used: Both
Rate Explanation: The Organization used the 10 percent de minimis indirect cost rate on ALN numbers 93.048. For the remainder of the grants, they used a rate less than the de minimis rate as specified in the grant agreements.