Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) is prepared on the accrual basis of accounting. Expenditures are recognized when the underlying transactions occur, regardless of when cash is received or disbursed. The information in the schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The auditee did not elect to use the 10% de minimis indirect cost rate under 2 CFR 200.414(f).