Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal and state awards is presented 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. 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), and the City of Philadelphia Subrecipient Audit Guide. Therefore, some of the amounts presented in the schedule may differ from amounts presented in or used in the preparation of the basic combined financial statements.
De Minimis Rate Used: N
Rate Explanation: JFCS has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of expenditures of federal and state awards (the “Schedule”) includes the activities of all federal and state financial assistance programs of JFCS for the year ended August 31, 2023. All governmental financial assistance received directly from federal agencies as well as financial governmental assistance passed through other state and local agencies is included on the Schedule. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, and the City of Philadelphia Subrecipient Audit Guide. Because the Schedule presents only a selected portion of the operations of JFCS, it is not intended to and does not present the combined financial position, changes in net assets or cash flows of JFCS.
Title: Program/Award Amounts
Accounting Policies: The accompanying schedule of expenditures of federal and state awards is presented 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. 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), and the City of Philadelphia Subrecipient Audit Guide. Therefore, some of the amounts presented in the schedule may differ from amounts presented in or used in the preparation of the basic combined financial statements.
De Minimis Rate Used: N
Rate Explanation: JFCS has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
JFCS has an August 31 year-end. A portion of their grant awards generally have contract periods ending June 30. Therefore, the accompanying Schedule of Expenditures of Federal and State Awards contain financial activity for the last ten months of June 30, 2023 contracts and for the first two months of the June 30, 2024 contracts.
Based on information from the funding agencies, and to retain consistency, the program/award allocations for the June 30, 2024 contracts have been allocated in the same percentages as the June 30, 2023 program/award amounts.