Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types of expendituresare not allowable or are limited as to reimbursement. The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The financial statements include accounts receivable from federal programs. These receivables are recorded according to the same basis of accounting as the financial statements. These receivables reflect federal awards that have been expended by year end and not yet reimbursed.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.