Notes to SEFA
Accounting Policies: For purposes of the Schedule of Expenditures and Federal Awards (Schedule), expenditures for federal programs are recognized on the accrual basis of accounting. Expenditures are determined using the cost accounting principles and procedure set, as required by Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the presentation of Altura's financial statements.
De Minimis Rate Used: N
Rate Explanation: Altura did not elect to use the 10-percent de minimis cost rate per 2 CFR 200.510(b)(6).