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 limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Conservancy has elected to use the 10% de minimums indirect cost rate for federal awards. The Conservancy applies indirect costs in accordance with the specific terms of its federal award agreements.