Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Management, Training and Consulting Corporation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements.
De Minimis Rate Used: Y
Rate Explanation: Federal programs in titles are reported as presented in the Catalog of Federal Domestic Assistance (CFDA), whenever possible. Management, Training and Consulting Corporation elected to use the 10% de minimis cost rate as covered in 200.414 Indirect (F&A) costs.