Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards includes the federal grant activity of the Association and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with accounting principles generally accepted in the United States of America as applicable to not-for-profit organizations and the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: Y
Rate Explanation: The Association has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.