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 cost principles 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 Foundation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) is a summary of the activity of The Bair Foundation of Texas (Foundation)'s federal award programs. The Schedule has been prepared on the accrual basis of accounting. The information in this Schedule is presented in accordance with the 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), except as noted in Note 2. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: Allocation of Expenditures
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles 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 Foundation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
During the year, funds are received from the various funding agencies on a reimbursement basis based on census data and approved billing rates and are not identified by assistance listing number (ALN). At year-end, these funding agencies provide the Foundation with revenue information by ALN.