Notes to SEFA
Title: Note 1: Basic of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported in accordance with 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: we elected not to use de minimus on these federal grants
The accompanying schedule of expenditures of federal, state and city awards (the Schedule) includes federal award activity of The Urban League of Philadelphia 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). The Schedule only presents a selected portion of the operations of The Urban League of Philadelphia and is not intended to and does not present the financial position or changes in the financial position of The Urban League of Philadelphia.
Title: NOTE 2 – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported in accordance with 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: we elected not to use de minimus on these federal grants
Expenditures reported on the Schedule are reported in accordance with 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: NOTE 3 – Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported in accordance with 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: we elected not to use de minimus on these federal grants
The Urban League of Philadelphia has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.