Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: SEFA PREPARED ON ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: No cost rate used
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
Title: ACCRUED AND DEFERRED REIMBURSEMENT
Accounting Policies: SEFA PREPARED ON ACCRUAL BASIS OF ACCOUNTING
De Minimis Rate Used: N
Rate Explanation: No cost rate used
VARIOUS REIMBURSEMENT PROCEDURES ARE USED FOR FEDERAL AWARDS RECEIVED BY THE AGENCY. TIMING DIFFERENCES MAY OCCURE BETWEEN EXPENSES AND REIMBURSEMENTS RECEIVED DURING A YEAR. ACCRUED REVENUES AT YEAR END REPRESENT AN EXCESS OF EXPENSES OVER CASH REIMBURSEMENTS RECEIVED. DEFERRED REVENUES AT YEAR END REPRESENT AN EXCESS OF CASH RECEIVED OVER ELIGIBLE PROGRAM EXPENSES. GENERALLY ACCRUED AND DEFERRED AMOUNTS CAUSED BY TIMING DIFFERENCES WILL BE REVERSED IN THE SUBSEQUENT YEAR.