Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Theorganization has not elected to use the 10 percent de minimis indirect cost rate as allowed underthe Uniform Guidance. There were no federal awards expended for non-cash assistance,insurance or any loans or loan guarantees outstanding at year-end. Of the federal expenditurespresented in the Schedule, the organization did not provide any amounts to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.