Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization uses an indirect cost rate as approved by the funder for each source of funding, which varies between 0 and 23.92 per cent.
See attached.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization uses an indirect cost rate as approved by the funder for each source of funding, which varies between 0 and 23.92 per cent.
See attached.
Title: Indirect Cost Rate
Accounting Policies: Expenditures are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization uses an indirect cost rate as approved by the funder for each source of funding, which varies between 0 and 23.92 per cent.
See attached.
Title: Sub-Recipients
Accounting Policies: Expenditures are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization uses an indirect cost rate as approved by the funder for each source of funding, which varies between 0 and 23.92 per cent.
The Organization provided no federal awards to sub-recipients during the fiscal year ended June 30, 2023.
Title: Non-Cash Awards
Accounting Policies: Expenditures are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization uses an indirect cost rate as approved by the funder for each source of funding, which varies between 0 and 23.92 per cent.
The Organization did not receive any federally funded non-cash assistance during the fiscal year ended June 30, 2023.