Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the modified-accrual basis of accounting, which is described in the notes to the financial statements. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. National Indian Youth Leadership Development Project, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.