Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The SEFA is prepared by Grant Billing personnel and approved by the Accounting Manager and Executive Director prior to submission to the auditor. The SEFA is prepared on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Auditee used the de minimis cost rate allowed under the Uniform Guidance
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Organization 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. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to or does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: The SEFA is prepared by Grant Billing personnel and approved by the Accounting Manager and Executive Director prior to submission to the auditor. The SEFA is prepared on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Auditee used the de minimis cost rate 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
Title: Indirect Cost Rate
Accounting Policies: The SEFA is prepared by Grant Billing personnel and approved by the Accounting Manager and Executive Director prior to submission to the auditor. The SEFA is prepared on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Auditee used the de minimis cost rate allowed under the Uniform Guidance
The Organization has elected to use the 16.60-percent de minimis indirect cost rate allowed under the Uniform Guidance
Title: Loan
Accounting Policies: The SEFA is prepared by Grant Billing personnel and approved by the Accounting Manager and Executive Director prior to submission to the auditor. The SEFA is prepared on the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Auditee used the de minimis cost rate allowed under the Uniform Guidance
See Notes to the SEFA