Notes to SEFA
Accounting Policies: The schedule of expenditures of federal awards includes the federal grant activity of Project GRAD Kenai Peninsula and is presented on the accrual basis of accounting adjusted to include purchases of property and equipment which have been capitalized under generally accepted accounting principles. The information in the schedule is presented in accordance with the requirements of Uniform Guidance under CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The organization did not elect to use the 10% deminimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.