Notes to SEFA
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 Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore,
some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements included in the Council’s annual audit report.
De Minimis Rate Used: N
Rate Explanation: The Council did not elect to use the 10% de minimis indirect cost rate.