Notes to SEFA
Accounting Policies: The schedule of expenditures of federal and state awards is presented on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in the Uniform Guidance or UGMS, where certain types of expenditures are not allowed or are limited as to reimbursement. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.