Notes to SEFA
Accounting Policies: The schedule of expenditures of federal award activity of Lytle Trace, Inc. and is presented on the accural 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 Admisitrative Requirements, cost principals and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: Lytle Trace, Inc. has elected not to use the 10% de minimus indorect cost rate as allowed under the Uniform Guidance.