Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Shelter for Life International, Inc. has a negotiated NICRA indirect cost rate that they use rather than the de minimis 10 percent rate under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Shelter for Life International, Inc. under programs of the federal government for the year ended September 30, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Shelter for Life International, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Shelter for Life International, Inc.
Title: INDIRECT COST RATE
Accounting Policies: 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: Shelter for Life International, Inc. has a negotiated NICRA indirect cost rate that they use rather than the de minimis 10 percent rate under the Uniform Guidance.
Shelter for Life International, Inc. has a negotiated NICRA indirect cost rate that they use rather than the de minimis 10 percent rate under the Uniform Guidance.
In fiscal year 2022, the Department of Interior, as the cognizant Federal Government agency, had evaluated Shelter For Life International’s NICRA application and had determined the Organization’s indirect cost rate at 18.90%. Using the same calculation and relevant information, the Organization’s indirect cost rate for fiscal year 2023 will be 18.90%.