Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of the Trust and is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, the amounts presented in this schedule may differ from the amounts presented in the preparation of the basic financial statements.
Because the schedule presents only a selected portion of the operations of the Trust, it is not intended to, and does not, present the financial position or changes in net assets of the Trust.
None of the federal awards received have been passed through to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The Trust elected not to use the 10% de minimis indirect cost rate.