Notes to SEFA
Title: Note 3 Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: FUTURES elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Certain funds are passed through to subrecipient organizations by FUTURES. Expenditures incurred by the subrecipients and reimbursed by FUTURES are included in the Schedule. FUTURES is also the subrecipient of federal funds, which are reported as expenditures and listed separately as federal passthrough funds.