Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the School 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 fer from amounts presented in, or used in the preparation of, the consolidated financial statements. The expenditures in the Schedule are recognized following the cost principles contained in the Uniform Guidance. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The School has not elected to use the 10% de minimis cost rate as covered in Section 200.414 Indirect (F&A) costs of the Uniform Guidance.