Notes to SEFA
Accounting Policies: This schedule includes the federal awards activity of TESSA and is presented on the accrual basis of
accounting. The information in this schedule is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Regulations (CFR) 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 preparation of, the basic financial
statements.
De Minimis Rate Used: Y
Rate Explanation: TESSA has elected to use the 10 percent de minimus indirect cost rate to charge costs to some but
not all of their federal awards.