Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenduitures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Elected not to used the 10 percent de minimus cost rate.
The accompanying schedule of expenditues of federal awards includes the federal grant activity of The Education Alliance-Business and Community for Public Schools, Inc., and is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requiements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Becuase the schedule presents only a selected portion of the operations of The Education Alliance-Business and Community for Public Schools, Inc., it is not intended to and does not present the financial position, changes in net asets, or cash flows of The Education Alliance-Business and Community for Public Schools, Inc.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenduitures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Elected not to used the 10 percent de minimus cost rate.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: Expenduitures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Elected not to used the 10 percent de minimus cost rate.
The Education Alliance-Business and Community for Public Schools, Inc. has elected not to use the 10-percent de miinimus indirect cost rate allowed under the Uniform Guidance.