Notes to SEFA
Accounting Policies: EXPENDITURES REPORTED IN THE SCHEDULE ARE REPORTED ON THE ACCRUAL OR MODIFIED ACCRUAL BASIS OF ACCOUNTING, EXCEPT FOR REVOLVING LOAN FUND TRANSACTIONS (ECONOMIC ADJUSTMENT ASSISTANCE, CFDA 11.307), AS EXPLAINED ABOVE. 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.
De Minimis Rate Used: N
Rate Explanation: AREA 15 REGIONAL PLANNING COMMISSION HAS ELECTED NOT TO USE THE 10% DE MINIMUS COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.