Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of National Asian Pacific Center on Aging 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 (the Uniform Guidance). 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: N
Rate Explanation: National Asian Pacific Center on Aging has a negotiated indirect cost rate for use on Federal grants and contracts. For the year ending June 30, 2022, the predetermined rate was 11.59% based on total modified direct costs. As such, National Asian Pacific Center on Aging is not eligible to elect use of the 10% de minimus indirect cost rate.