Notes to SEFA
The Organization prepares its schedule on the cash basis of accounting, which is a basis of accounting other than accounting principles generally accepted in the United States of America (GAAP). Consequently, expenditures are recognized when paid. If GAAP were used, expenditures would be recognized when incurred.
The Organization has elected not to use the 10-15 percent de minimis indirect cost rate allowed under the Uniform Guidance.