Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Theseexpenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on theSchedule, if any, represent adjustments or credits made in the normal course of business to amounts reportedas expenditures in prior years.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.