Notes to SEFA
Accounting Policies: Expenditures reported on the schedules are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principals 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimus cost rate.