Notes to SEFA
Title: Note 4 Reconciliation of Expenditures Presented in the Schedule of Expend
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Total federal awards expenditures per SEFA $ 4,234,913Less: Capitalized federal awards -Add: Non federal awards expenditures 36,170,846Total expenses per financial statements $ 40,405,75