Notes to SEFA
Accounting Policies: 1. BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal grant activity and is presentedon the modified accrual basis of accounting. The information in this schedule is presented in accordance with theaudit 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). Because the schedule presentsonly a selected portion of the operations, it is not intended to and does not present the net position, changes in netposition, or cash flows of the entity.2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowed or are limited as to reimbursement. Negative amounts shown on the schedulerepresent adjustments or credits made in the normal course of business to amounts reported as expenditures in prioryears. The entity has not elected to use the ten percent de minimus indirect cost rate as allowed under UniformGuidance, due to the fact that they already have a negotiated indirect cost rate with Oregon Department ofEducation, and thus is not allowed to use the de minimus rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.