Notes to SEFA
Accounting Policies: Expeditures are reported on the Schedule on the accural basis of accounting. Such expeditures are recognized following the cost principles contained in the Uniform Guidance and/ or OMB Circular A-122, Cost Principles for Non-Profit Universities, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The University has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.