Notes to SEFA
Accounting Policies: Expenditures for federal awards are recognized as incurred using the cost accounting principles contained in The Office of Management and Budget's (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly called "Uniform Guidance"). Under these cost principles, certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.