Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards has been prepared on an accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance and alsopresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awardsfor all new federal awards received on or after December 26, 2014, and for funding increments(additional funding on existing awards) with modified terms and conditions that are awarded on or afterthat date. Because the schedule of expenditures of federal awards presents only a selected portion of theoperations of the Organization, it is not intended to, and does not present, the financial position, changesin net assets, or cash flows of the Organization.
De Minimis Rate Used: Y
Rate Explanation: The Organization has elected to use the 10% de minimis indirect cost rate to recover indirect costs, asallowed under the Uniform Guidance.