Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting.Such expenditures are recognized following the cost principles contained in Uniform Guidance,wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore,some amounts presented in this schedule may differ from amounts presented in, or used in thepreparation of, the basic financial statements included in the Councils annual audit report.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.