Notes to SEFA
Accounting Policies: The Schedule of Expenditures of Federal Awards presents the activity of all federal award programs. All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included on the schedule.The Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting which is described in Note 1 to the Foundations basic financial statements. Expenditures are recognized following the applicable cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.