Notes to SEFA
Title: INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federalaward activity of CCLF under programs of the federal government for the year endedDecember 31, 2022. The information in the SEFA is presented in accordance with therequirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). As the SEFA presents only aselected portion of the operations of CCLF, it is not intended to and does not present thefinancial position, changes in net assets, or cash flows of CCLF. Expenditures reported on the SEFA are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidancefor all awards, which follows criteria determined by the Department of Treasury forallowability of costs. Under these principles, certain types of expenditures are not allowableor are limited as to reimbursement. Negative amounts shown on the SEFA (if any) representadjustments or credits made in the normal course of business to amounts reported asexpenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.