Notes to SEFA
Accounting Policies: NOTE 1. BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal awardactivity of the GCADV under programs of the federal government for the year ended June 30, 2022. Theinformation in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operationsof the GCADV, it is not intended to and does not present the financial position, changes in net assets, or cashflows of the GCADV.NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognizedfollowing the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement. GCADV has elected not to use the 10 percent de minimis indirectcost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.