Notes to SEFA
Title: Accrued or Deferred Revenue
Accounting Policies: The supplementary schedule of expenditures of federal awards is presented using the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amount presented in, or used in the preparation of the financial statements. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or a modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amounts reported in this schedule are revenue and expenditures may differ from certain financial reports submitted to federal, state, or city funding agencies due to those reports being submitted for different reporting periods. There was no accrued or deferred revenue recorded as of June 30, 2023 and 2022. The following is a reconciliation of grant awards and the fiscal year or revenue recognition: revenue recognized for the fiscal year ended June 30 for pass-through grantor’s number SAP 4100077850: 2021 $767,685, 2022 $669,443, and 2023 $622,735, total $2,059,863