Notes to SEFA
Title: Reconciliation of Schedule of Expenditures of Federal Awards to Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Senior Citizens Services, Inc. d/b/a Active Generations (the Center) under programs of the federal government for the year ended May 31, 2023. The information in this Schedule is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations 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 the Center, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Center. 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.
De Minimis Rate Used: N
Rate Explanation: The Center has not elected to use the 10% de minimis cost rate.
The following is a reconciliation of the expenditures reported on the schedule of expenditures of federal awards to the revenues reported in the financial statements:
Total: Federal and State revenues: $2,015,674
Less: Portion related to State revenues: (242,200)
Total: Federal expenditures: $1,773,474