Notes to SEFA
Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting
in accordance with accounting principles generally accepted in the United States of
America. 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: N
Rate Explanation: The Organization has elected not to use the ten percent de minimis indirect cost rate
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) presents the
federal program activity of the Organization. The Schedule is presented on the accrual
basis of accounting. The information in the Schedule is presented in accordance with
the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards (Uniform Guidance). Because the Schedule represents only a selected portion
of the operations of the Organization, it is not intended to and does not present the
financial position, changes in net assets, or cash flows of the Organization.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting
in accordance with accounting principles generally accepted in the United States of
America. 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: N
Rate Explanation: The Organization has elected not to use the ten percent de minimis indirect cost rate
allowed under the Uniform Guidance.
Expenditures reported on the schedule are reported on the accrual basis of accounting
in accordance with accounting principles generally accepted in the United States of
America. 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.
Title: NOTE 3 – INDIRECT COSTS
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting
in accordance with accounting principles generally accepted in the United States of
America. 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: N
Rate Explanation: The Organization has elected not to use the ten percent de minimis indirect cost rate
allowed under the Uniform Guidance.
The Organization has elected not to use the ten percent de minimis indirect cost rate
allowed under the Uniform Guidance.