Notes to SEFA
Title: (1) SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SAME BASIS OF ACCOUNTING AS USED IN THE BASIC FINANCIAL STATEMENTS
De Minimis Rate Used: Y
Rate Explanation: PER THE CONTRACT - INDIRECT 19.4%
The accompanying Schedule of Expenditures of Federal Awards presents the activity of federal financial awards programs of the Organization and is presented on the same basis of accounting as the basic financial statements. Federal awards received directly from federal agencies are included in the schedule. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance.
Title: (2) BASIS OF ACCOUNTING
Accounting Policies: SAME BASIS OF ACCOUNTING AS USED IN THE BASIC FINANCIAL STATEMENTS
De Minimis Rate Used: Y
Rate Explanation: PER THE CONTRACT - INDIRECT 19.4%
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
Title: (3) INDIRECT COST
Accounting Policies: SAME BASIS OF ACCOUNTING AS USED IN THE BASIC FINANCIAL STATEMENTS
De Minimis Rate Used: Y
Rate Explanation: PER THE CONTRACT - INDIRECT 19.4%
The indirect costs rate is 19.40%.
Title: (4) MAJOR PROGRAMS
Accounting Policies: SAME BASIS OF ACCOUNTING AS USED IN THE BASIC FINANCIAL STATEMENTS
De Minimis Rate Used: Y
Rate Explanation: PER THE CONTRACT - INDIRECT 19.4%
Major programs were determined in accordance with the Uniform Guidance.