Notes to SEFA
Title: Note 1: Basis of Presentation
Accounting Policies: The accompanying schedule of federal expenditures of federal awards (the Schedule) includes
the federal grant activity of BSCS, 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance).
Because the Schedule presents only a selected portion of the operations of BSCS, it is not
intended to and does not present the financial position, changes in net assets, or cash flows of BSCS.
De Minimis Rate Used: N
Rate Explanation: BSCS has elected to not use the 10% de minimis cost rate as covered in the Uniform Guidance
2 CFR section 200.414 Indirect Costs.
The accompanying schedule of federal expenditures of federal awards (the Schedule) includes
the federal grant activity of BSCS, 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance).
Because the Schedule presents only a selected portion of the operations of BSCS, it is not
intended to and does not present the financial position, changes in net assets, or cash flows of BSCS.
Title: Note 2: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of federal expenditures of federal awards (the Schedule) includes
the federal grant activity of BSCS, 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance).
Because the Schedule presents only a selected portion of the operations of BSCS, it is not
intended to and does not present the financial position, changes in net assets, or cash flows of BSCS.
De Minimis Rate Used: N
Rate Explanation: BSCS has elected to not use the 10% de minimis cost rate as covered in the Uniform Guidance
2 CFR section 200.414 Indirect Costs.
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, where
in certain types of expenditures are not allowable or limited to reimbursement.
BSCS has elected to not use the 10% de minimis cost rate as covered in the Uniform Guidance
2 CFR section 200.414 Indirect Costs.