Notes to SEFA
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards summarizes the expenditures of theOrganization under programs of the federal government for the year ended June 30, 2022 and ispresented on the accrual basis of accounting. The information in this schedule is presented inaccordance with the provisions of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (theUniform Guidance). Therefore, some amounts presented in this schedule may differ from amountspresented in, or used in the preparation of, the financial statements.NOTE 2 ACCOUNTING PRINCIPLESExpenditures for direct costs are recognized as incurred using the accrual method of accountingand the cost accounting principles contained in the Uniform Guidance. Under these cost principles,certain types of expenditures are not allowable or are limited as to reimbursement.NOTE 3 INDIRECT COST RATEThe Organization did not elect to use the 10% de minimis cost rate under Title 2 U.S. CFR Part200, Subpart E, Cost Principles.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.