Notes to SEFA
Accounting Policies: Note A General The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of CenCal Business Finance Group. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. The information in this SEFA is presented in accordance with the requirements of the Uniform Guidance. Note B Basis of Accounting The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200 Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in CenCal Business Finance Groups basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.