Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the accompanying schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has a negotiated indirect cost rate and, therefore, has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the HELP-New Mexico, Inc. and Affiliate (the Organization) 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 Regulation 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 HELP-New Mexico, Inc. and Affiliate, it is not intended to and does not present the financial position, changes in net assets, or cash flows of HELP-New Mexico, Inc. and Affiliate.
Title: Noncash Assistance
Accounting Policies: Expenditures reported in the accompanying schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has a negotiated indirect cost rate and, therefore, has elected not to use the 10% de minimis indirect cost rate as allowed under the uniform guidance.
The Organization received in-kind donations of $855,975 used for matching compliance requirements for the year ended June 30, 2023.