Notes to SEFA
Accounting Policies: Expenditures reported in the SEFSA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments or cost principles contained in Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: Piedmont Triad Regional Council has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.