Notes to SEFA
BASIS OF PRESENTATION-THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS INCLUDES ALL SIGNIFICANT FEDERALLY FUNDED GRANT PROGRAMS OF THE AGENCY AND HAS BEEN PREPARED ON THE ACCRUAL BASIS OF ACCOUNTING
VARIOUS REIMBURSEMENT PROCEDURES ARE USED FOR FEDERAL AWARDS RECEIVED BY THE AGENCY. TIMING DIFFERENCES MAY OCCUR BETWEEN EXPENDITURES AND REIMBURSEMENTS DURING A YEAR. ACCRUED REVENUES AT YEAR END REPRESENT AN EXCESS OF EXPENDITURES OVER CASH REIMBURSEMENTS RECEIVED. DEFERRED REVENUES AT YEAR END REPRESENT AN EXCESS OF CASH RECEIVED OVER ELIGIBLE PROGRAM EXPENDITURES. GENERALLY, ACCRUED AND DEFERRED AMOUNTS CAUSED BY TIMING DIFFERENCES WILL BE REVERSED IN THE SUBSEQUENT YEAR.
THE AGENCY DID NOT ELECT TO USE THE 10% DE MINIMIS INDIRECT COST RATE DURING THE YEAR ENDED JUNE 30, 2025