Notes to SEFA
Accounting Policies: Basis of Presentation. The accompanying schedule of federal awards includes the federal grant activity of Firefly and is presented on the accrual basis of accounting. Grant award are considered expended when the expense transactions associated with the grant occur. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414.