Notes to SEFA
Accounting Policies: Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements, regardless of the measurement focus applied. All governmental funds are accounted for using the modified accrual basis of accounting. Expenditures of Federal Awards on the Schedule are recognized when incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.