Notes to SEFA
Accounting Policies: Expenditures reported in the Schedule of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, herein, certain types of expenses are not allowabe or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: HIP did not opt to use the rate for federal grants in FY23. However, HIP is in the process of creating the infrastructure to use the de minimis cost rate in the future.