Notes to SEFA
Accounting Policies: NOTE B -- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting as described inNote A to the financial statements. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance wherein certain types of expenditures are not allowable or arelimited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.