Notes to SEFA
Accounting Policies: The significant accounting policies used in preparing the SEFA were the following: Cost Accounting principles contained in the Uniform Guidance and Cost Principles for Non Profit Organizations (2 CFR part 230). Under these cost principles, certain types of expenditures are not allowed or are limited as to reimbursement. Expenditures include a portion of costs associated with general institute activities (facilities and administrative costs or indirect costs), which are allocated to federal awards under negotiated formulas commonly referred to as facilities and administrative cost rates.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.