Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 200 Uniform Administrative Requirements Guidance Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Council has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance and therefore was not used to compute indirect costs allocable to the Federal programs.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.