Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of theFoundation under programs of the federal government for the year ended June 30, 2022. The information inthis schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because this schedule presents only a selected portion of the operations of theFoundation, it is not intended to, and does not, present the financial position, changes in net assets, or cashflows of the Foundation. Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expendituresare not allowable or are limited as to reimbursement. Part C expenditures are based on state contract budgetallocations.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.