Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform
Guidance for all awards.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The accompanying Schedule of Expenditures of Federal and State Awards (the Schedule)
includes the federal and state grant activity of the Board and is presented on the modified accrual
basis of accounting. Therefore, some amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the basic financial statements.
Title: Summary of Signifcant Accounting polcies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform
Guidance for all awards.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform
Guidance for all awards.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform
Guidance for all awards.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The Board has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform
Guidance for all awards.
De Minimis Rate Used: N
Rate Explanation: The Board has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Of the federal expenditures presented in the Schedule, the Board has not provided any federal
awards to subrecipients.