Notes to SEFA
Title: SEFA preparation
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared in accordance with the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Management has utilized the Cash Management System Grant Auditor Report in preparing theSchedule of Expenditures of Federal Awards.
Title: reconciliation of SEFA expenditures to financial statement revenues
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared in accordance with the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Revenues from federal sources per governmental funds financial statements and expenditures per the Schedule of Expenditures of Federal Awards both total $1,866,081.