Notes to SEFA
Accounting Policies: Expenditures reported on the schedule are reported using the cash basis of accounting. Some amounts presented in the schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, where certain types of expenditures are not allowable or are limited as to reimbursement Nonmonetary assistance is reported in the schedule at the fair market value of commodities received.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.