Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards and state financial assistance represents amounts expended from federal award programs and state projects during the fiscal year as determined on the modified accrual basis of accounting. The information in the 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 (Uniform Guidance) and the Florida Department of Financial Services State Projects Compliance Supplement. The amounts reported on the Schedule have been reconciled to and are in material agreement with amounts recorded in the Organizations accounting records from which the basic financial statements have been reported. Federal and state funds that are not subject to Uniform Guidance or Florida Single Audit are not included on this schedule.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.