Notes to SEFA
The accompanying Schedule of Federal Awards includes the federal grant activity of The Rolla Mission and Subsidiary (the “Organization”) and is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements.
Expenditures reported on the schedule are reported 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 are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.