Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The YMCA of East Tennessee has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The SEFA includes the federal grant activity of YMCA of East Tennessee. The information in this schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparion of, the basic financial statements.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The YMCA of East Tennessee has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited to reimbursement. YMCA of East Tennessee has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.