Notes to SEFA
Accounting Policies: NOTE 1 – BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal
award activity of SBHS under programs of the federal government for the year ended June 30, 2023. The
information in this Schedule is presented in accordance with the 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 presents only a selected
portion of the operations of the SBHS, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of the Organization.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNT POLICIES
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
NOTE 3 – INDIRECT COST RATE
SBHS has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
De Minimis Rate Used: N
Rate Explanation: NOTE 3 – INDIRECT COST RATE
SBHS has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.