Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The expenses reported on the Schedule are presented using the accrual basis of accounting, the method used to prepare the Organization's financial statements. Such expenses are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying Schedule of Expenditures of Federal and State Awards (the "Schedule") includes the federal and State grant activity of the Organization, for the year ended June 30, 2023. The information in this schedule is presented in accordance with the requirements of the Office of Management and Uniform Guidance, Audits of States, Local Government, and Non-Profit Organizations. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization. Federal awards received directly from federal agencies are designated as “Direct Program”. Any federal awards passed through from other grantor agencies, if any, are designated as “Pass-through”on the Schedule.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The expenses reported on the Schedule are presented using the accrual basis of accounting, the method used to prepare the Organization's financial statements. Such expenses are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The expenses reported on the Schedule are presented using the accrual basis of accounting, the method used to prepare the Organization's financial statements. Such expenses are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
Title: INDIRECT COST RATE
Accounting Policies: The expenses reported on the Schedule are presented using the accrual basis of accounting, the method used to prepare the Organization's financial statements. Such expenses are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
Title: SUB-RECIPIENTS
Accounting Policies: The expenses reported on the Schedule are presented using the accrual basis of accounting, the method used to prepare the Organization's financial statements. Such expenses are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The Organization did not provide any federal awards to sub recipients for the year ended June 30, 2023.
Title: LOANS OR LOAN GUARANTEES
Accounting Policies: The expenses reported on the Schedule are presented using the accrual basis of accounting, the method used to prepare the Organization's financial statements. Such expenses are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
There were no loans or loan guarantees outstanding at year end related to the federal and state awards disclosed on the Schedule of Expenditures of Federal Awards.