Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance and/orOMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Therefore, some amountspresented in this schedule may differ from amounts presented in, or used in the preparation of, thecombined financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.