Notes to SEFA
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. First Baptist Housing Association dba Rotary Gardens Apartments has elected not to use the 10-percent de minimis indirect cost rate allowed by the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: First Baptist Housing Association dba Rotary Gardens Apartments has elected not to use the 10-percent de minimis indirect cost rate allowed by the Uniform Guidance.