Notes to SEFA
Accounting Policies: Expenditures reported on the SEFA are reported on the cash basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-133, Cost Principles for Educational Institutions, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles , and Audit Requirements for Federal Awards, wherin certain types of expenditures are not allowed or are limited as to reimbursement. Pass-through entity identifying numbers, if applicable, are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.