Notes to SEFA
The accompanying Schedule of Expenditures of Fedral Awards (SEFA) includes the federal grant activity of the Organization and has been prepared in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Unifrom Guidance). All federal expenditures are presnted in accordance with the assistance listings provided by the federal agencies.
The SEFA is presented on the accrual basis of accounting, consistent with generally accepted accounting principles. Expenditures are recognized when the cost is incurred and in accordance with the terms of the federal award. The amounts reported in the SEFA are derived from and agree to the Organization's accounting records from which the basic financial statements have been prepared.
The Organization has not elected to use the 10 percent de minimis indirect cost rate as permitted under 2 CFR Part 200.414.