Notes to SEFA
Title: GENERAL
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 the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimus cost rate
The accompanying schedule of expenditures of federal awards (the “SEFA”) presents the activity of all federal financial awards programs received by the Organization. All federal awards received directly from federal agencies, and federal awards passed through other government agencies, are included on the schedule.
Title: BASIS OF PRESENTATION
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 the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimus cost rate
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of the financial statements. The information in the SEFA is presented in accordance with regulations of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
Title: indirect cost rate
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 the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimus cost rate
The Organization elected to use the 10% de minimis cost rate covered under Title 2 U S Code of Federal Regulations Part 200, Subpart E, ost Principles for two of its grants. No other grants included cost recovery for indirect costs.