Notes to SEFA
The Schedule of Expenditures of Federal Awards includes the federal grant activity, respectively, of the Conference Center at Cool Springs and is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule present only a selected portion of the operations of the Conference Center, they are not intended to and do not present the financial position or changes in financial position of the Conference Center
The informationreported in the Schedule is reported in accordance with accountingprinciplesgenerallyaccepted in the United States of America, which is the same basis of accounting as the basic financial statements. The federal 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 Conference Center has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.