Notes to SEFA
Accounting Policies: The accompanying Schedule is presented using the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. The amounts reported in the Schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either cash or a modified cash basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization does have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis cost rate as covered in section 200.414 in the Uniform Guidance.