Notes to SEFA
Title: NOTE 1. BASIS OF ACCOUNTING
Accounting Policies: Expenditures reported in the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: CCOF Foundation has elected to use the federal de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of CCOF Foundation, an affiliate of California Certified Organic Farmers, Inc., and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
Title: NOTE 2. SUMMARY OF SIGNFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported in the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: CCOF Foundation has elected to use the federal de minimis indirect cost rate.
Expenditures reported in the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE 3. FEDERAL INDIRECT RATE
Accounting Policies: Expenditures reported in the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: CCOF Foundation has elected to use the federal de minimis indirect cost rate.
CCOF Foundation has elected to use the federal de minimis indirect cost rate.