Notes to SEFA
Title: Note 1 - Significant Accounting Policies
Accounting Policies: Accrual basis of accounting
De Minimis Rate Used: N
Rate Explanation: They did not elect to use it.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of WellStone, Inc. and 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards . Therefore, some amounts presented in this schedule may differ from the amounts presented in,
or used in the preparation of the basic financial statements.
The Corporation did not elect to use the 10% de minimis indirect cost rate