Notes to SEFA
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grantactivity of WestEd under programs of the federal government for the year ended November 30, 2022. Theinformation in this schedule is presented in accordance with the requirements of the Title 2 U.S. Codeof Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selectedportion of the operations of WestEd, it is not intended to and does not present the financial position, changein net position or cash flows of WestEd.
De Minimis Rate Used: N
Rate Explanation: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Therefore, someamounts presented in this schedule may differ from amounts presented in, or used in the preparation of,the basic financial statements. Under the accrual basis, revenue is recorded when earned and expensesare recorded when incurred, without regard to the time of cash receipt or payment. Revenues for Federalprograms are received as reimbursement for specific projects and are recognized based on eligibleexpenses incurred. Such expenditures are recognized following the cost principles contained in UniformGuidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.WestEd has not elected to use the 10% de minimis indirect cost rate.Program income: There was no program income earned by the Federal Programs included in the SEFAduring the current fiscal year.