Notes to SEFA
Accounting Policies: The SEFA includes the federal grant activity for the organization and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation (CFR) Part 200, Uniform Administrative Requirements, Cost principles, and Audit requirements for Federal Awards (Uniform Guidance). Pursuant to the OMB Uniform Guidance: Cost principles, audit and administrative requirements for federal awards, federal financial assistance is defined as assistance provided by aa federal agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans, loan guarantees, property, interest subsides, insurance, or direct appropriations. Accordingly, non-monetary federal assistance, including federal surplus property, is included in federal financial assistance and, therefore, is reported on the schedule if applicable. Federal Financial assistance does not include direct federal cash assistance to individuals.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.