Notes to SEFA
Expenditures reported on the Schedule are reported on the cash 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 are limited as to reimbursement.
CFR Section 200.414 of the Uniform Guidance allows a non-federal entity that has never received a negotiated indirect cost rate to charge a de minimum rate of 10 percent of modified total direct costs to indirect costs. The Buckeye Community School-Marion has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.