Notes to SEFA
Accounting Policies: The expenditures reported on the SEFA have been recorded on the accrual basis of accounting which recognizes expenditures when incurred, in accordance with US generally accepted accounting principles. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: IUP Research Insititute has elected not to use the ten percent deminimus indirect cost rate allowed under the Uniform Guidance.