Notes to SEFA
Title: Note 1
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NWC has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. NWC has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
Title: Note 2
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NWC has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
The auditee did not use the de minimis cost rate