Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal activity of OcalaSymphony Orchestra, Inc. and is presented on the accrual basis of accounting. The information in thisschedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, 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,the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.