Notes to SEFA
Title: Significant Accounting Policies
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: Y
Rate Explanation: The Institute has elected to use the 10 percent de minimis indirect cost rate, on any of the federal contracts listed on the Schedule, as allowed under the Uniform Guidance.
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.
Title: De Minimis Cost Rate
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: Y
Rate Explanation: The Institute has elected to use the 10 percent de minimis indirect cost rate, on any of the federal contracts listed on the Schedule, as allowed under the Uniform Guidance.
The Institute has elected to use the 10 percent de minimis indirect cost rate, on any of the federal contracts listed on the Schedule, as allowed under the Uniform Guidance.
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: Y
Rate Explanation: The Institute has elected to use the 10 percent de minimis indirect cost rate, on any of the federal contracts listed on the Schedule, as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Institute for Nonviolence Chicago (the Institute) 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 activities of the Institute, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Institute. There were no federal awards expended for non-cash assistance, insurance or any loans or loan guarantees outstanding at year-end.