Notes to SEFA
Accounting Policies: The financial statements and records of the Organization are prepared on the accrual basis of accounting and,therefore, include all support and revenues when earned and all expenses when incurred, regardless of whetherthe support and revenues or expenses were received or paid as of the end of a period. Grants are recognizedas support when earned in accordance with the terms of each grant or agreement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.