Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the basis of accounting generally
accepted in the United States of America (U.S. GAAP). Such expenditures are
recognized following the costs principles contained in the The Uniform Guidance ,
wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Negative amounts shown on the Schedule represent adjustments or
credits made in the normal course of business to amounts reported as expenditures in
prior years.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect
cost rate allowed under The Uniform Guidance .
The accompaying Schedule of Expenditures of Federal Awards (the "Schedule") includes
the federal award activity of the Organization under programs of the federal government
for the year ended. 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 ("The Uniform Guidance" ). Because the Schedule presents only a selected
portion of the operations of the Organization, it is not intended to and does not present the
financial position, changes in net position, or cash flows of the Organization.