Notes to SEFA
Accounting Policies: 1. General InformationThe accompanying schedule of expenditures of federal awards presents the activities in all federal programs of the Organization. All financial assistance received directly or indirectly from federal agencies as well as financial assistance passed through other governmental agencies or not-for-profit organizations are included on the schedule.2. Basis of AccountingThe accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on either a cash or modified accrual basis.3. Relationship to Basic Financial StatementsFederal expenditures are reported on the statement of activities as government contracts. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported on the schedule of federal awards due to program expenditures exceeding grant or contract budget limitations which are not included as federal awards. 4. Cost AllocationsThe Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.