Notes to SEFA
Title: Method of Accounting
Accounting Policies: The schedule of expenditures of federal awards has been prepared on an accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance
and also 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 Requirementsfor
Federal Awards for all new federal awards received on or after December 26, 2014, and for funding
increments (additional funding on existing awards) with modified terms and conditions that are
awarded on or after that date. Because the schedule of expenditures of federal awards presents only
a selected portion of the operations of the Organization, it is not intended to, and does not present,
the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use a de minimis indirect cost rate as allowed under the Uniform
Guidance. The Organization utilizes a federally-approved indirect cost rate approved by its cognizant
agency.
The schedule of expenditures of federal awards has been prepared on an accrual basis of accounting.
Such expenditures are recognized following the cost principles contained in the Uniform Guidance
and also 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 Requirementsfor
Federal Awards for all new federal awards received on or after December 26, 2014, and for funding
increments (additional funding on existing awards) with modified terms and conditions that are
awarded on or after that date. Because the schedule of expenditures of federal awards presents only
a selected portion of the operations of the Organization, it is not intended to, and does not present,
the financial position, changes in net assets, or cash flows of the Organization.