Notes to SEFA
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certian types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Although the U.S. Department of Education provides an Administrative Coost Allowance as a component of the Student Financial Assistance programs, there is no indirect cost rate allowed as part of these programns or the other programs listed in the accompanying Schedule. As such, the University has also elected to not use the 10% de minimis cost rate.