Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Pierce County AIDS Foundation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Pierce County AIDS Foundation has a negotiated indirect cost rate for use on federal grants and contracts. For 2022, the final approved rate was 34.97%, based on the Modified Total Direct Costs. As such, Pierce County AIDS Foundation is not eligible to use the 10% de minimis indirect cost rate.