Notes to SEFA
Title: Summary of Significant Accounting Policies for Federal Expenditures
Accounting Policies: Expenditures for federal programs are recognized 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. The organization did not expend any federal awards during 2023 in hte form of non-cash assistance or provide any funds to subrecipients.
De Minimis Rate Used: Y
Rate Explanation: 10% indirect cost rate approved by cognizant state agency
For purposes of the Schedule, expenditures for federal programs are recognized 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. The Organization did not expend any federal awards during 2023 in the form of non-cash assistance or provide any funds to subrecipients.