Notes to SEFA
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING. SUCHEXPENDITURES ARE RECOGNIZED FOLLOWING, AS APPLICABLE, EITHER COST PRINCIPLES IN OMBA87 OR THE COSTPRINCIPLES CONTAINED IN TITLE 2 U.S. CODE OF FEDERAL REGULATIONS PART 200, UNIFORM ADMINISTRATIVEREQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS, WHEREIN CERTAIN TYPES OFEXPENDITURES ARE NOT ALLOWED OR ARE LIMITED AS TO REIMBURSEMENT. NEGATIVE AMOUNTS SHOWN ON THESCHEDULE REPRESENT ADJUSTMENTS OR CREDITS MADE IN THE NORMAL COURSE OF BUSINESS TO AMOUNTS REPORTEDAS EXPENDITURES IN PRIOR YEARS
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.