Notes to SEFA
Title: Program Costs
Accounting Policies: This schedule is prepared on the same basis of accounting as the commissions financial statements. The Commission uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Commission has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Commissions portion, may be more than shown.
Title: Program Income
Accounting Policies: This schedule is prepared on the same basis of accounting as the commissions financial statements. The Commission uses the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Commission has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as program income represent sponsorship funds received on behalf of specific grant activity. The granting agency has designated these funds to be reported using the addition method.