Notes to SEFA
Expenditures reported on the schedule are reported on the accrual basis of accounting. 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.
The accompanying schedule of expenditures of federal awards includes the federal grant activities of the Board and are presented on the accrual basis of accounting. The information in the schedules is presented in accordance with the requirements of Title 2 U.S. Cost of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance"). Because the schedule only presents a selected portion of the operations of the Board, they do not and are not intended to present the financial position, changes in net assets, or cash flows.
The Board has elected not to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.