Notes to SEFA
Accounting Policies: Expenditures reported in the SEFA are reported on the accrual or modified basis of accounting. Such expenditures are recognizedfollowing, as applicable1 either the cost principles in 01'U Circular-87, Cost Principles for State, Local, and Indian TribeGovernments1 or cost principles contained in the IJnifonu Guidance1 wherein certain types of expenditures are not allowed Or arelimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.