Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards and schedule of state financial assistance are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Certain amounts shown on the schedule of expenditures of federal awards and schedule of state financial assistance represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Center has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards and schedule of state financial assistance include the award activity of the Center under programs of the federal and state assistance include the award activity of the Center under programs of the federal and state governments, respectively, for the year ended June 30, 2023. The information in the schedule of expenditures of federal awards is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule of expenditures of federal awards and schedule of state financial assistance present only a selected portion of the operations of the Center, they are not intended to and do not present the financial position, statement of activities, or cash flows of the Center.