Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Organization and is presented under the modified accrual basis of accounting. The April 2022 Edition of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance) requires a disclosure of the financial activities of all federally funded programs. The Organization has elected to use the 10-percent diminish indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.