Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Stillman College on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Requiremn=ents for Federal Awards (Uniform Guidance). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in preparation of,the basis financial statements.
De Minimis Rate Used: Y
Rate Explanation: The College has elected to use the 10 percent de minimis cost rate allowed under the Uniform Guidance.