Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards includes the federal award activity of Summerside Woods, Inc. 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.
De Minimis Rate Used: N
Rate Explanation: Summerside Woods, Inc. has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.