Notes to SEFA
Title: General
Accounting Policies: The accompanying schedule of expenses of federal awards of Advance Redding 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 (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: Advance Redding has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of Advance Redding.
Title: Claims
Accounting Policies: The accompanying schedule of expenses of federal awards of Advance Redding 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 (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: Advance Redding has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Advance Redding has received federal grants for specific purposes that are subject to review and audit by the Federal Government. Although such audits could result in expenditure disallowance under grant terms, any required reimbursements are not expected to be material which have not already been recorded.