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.
De Minimis Rate Used: N
Rate Explanation: The Settlement has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
he federal award activity of Grand Street Settlement, Inc. (the “Settlement”) under programs of the federal government for the year ended June 30, 2023. 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”). Because the Schedule presents only a selected portion of the operations of the Settlement, it is not intended to and does not represent the financial position, changes in net assets or cash flows of the Settlement.
Title: Non-Cash Awards
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.
De Minimis Rate Used: N
Rate Explanation: The Settlement has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance.
For the year ended June 30, 2023, the Settlement did not have any non-cash awards, mortgage, or loan funds that should be included in the federal expenditures presented in this Schedule.