Notes to SEFA
Accounting Policies: In general, expenditures reported on the SEFA are reported on the accrual basis of accounting or when the funds are obligated by the awarding entity. Pursuant to the terms of the Coronavirus Capital Projects Fund/ARConnect grant, recipients are permitted to use grant award funds for pre-award costs incurred after March 15, 2021, but before their grant agreement is executed, provided such costs are otherwise allowable. Amounts reported on the SEFA include eligible costs that were incurred in prior years. 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.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the 10% de minimis cost rate allowed under Uniform Guidance.