Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. In addition, agency or
pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis cost rate as allowed under the Uniform
Guidance.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity
of Hawaii Agriculture and Research Center and Affiliates (Organization) and is presented on the accrual basis
of accounting. The information in this Schedule is presented in accordance with the requirements of Title 2
U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, certain amounts presented in
this Schedule may differ from amounts presented in, or used in the preparation of the consolidated financial
statements of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: The expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. In addition, agency or
pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis cost rate as allowed under the Uniform
Guidance.
The expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. In addition, agency or
pass-through entity identifying numbers are presented where available.
Title: Indirect Cost Rates
Accounting Policies: The expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement. In addition, agency or
pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10 percent de minimis cost rate as allowed under the Uniform
Guidance.
The Organization has not elected to use the 10 percent de minimis cost rate as allowed under the Uniform
Guidance.