Notes to SEFA
Accounting Policies: Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accountsand reported in the financial statements, regardless of the measurement focus applied. All proprietary fundsare accounted for using the accrual basis of accounting. Expenditures of Federal Awards reported on theSchedule are recognized when incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.