Notes to SEFA
Accounting Policies: 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Action for a Better Community, Inc. has not elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance. The Organization uses a Federally approved indirect cost rate of 16.4%.