Notes to SEFA
Accounting Policies: 1. BASIS OF PRESENTATION:The accompanying Schedule of Federal Expenditures (the Schedule) includes the grant activity of BFHP. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in theSchedule may differ from amounts presented in, or used in the preparation of, the financial statements.2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:The Schedule is presented 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 limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.