Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are presented on the
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 EdAdvance’s annual audit report.
De Minimis Rate Used: N
Rate Explanation: EdAdvance did not elect to use the 10% de minimis indirect cost rate.