Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures of federal awards are recognized in the accounting period when the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The grant expenditure do not include any indirect costs and, as such, the Organization has not made any elections regarding the 10% de minimis cost rate as permitted in the Guidance, Sections 200.414.
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 August 31, 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, Costs Principles, and Audit Requirements for Federal Awards (Uniform
Guidance), and Audits of States, Local Governments, and Non-Profit Organizations. All federal awards received directly from federal agencies as well as awards passed through other government agencies are included in the schedule. Because the schedule presents only a selected portion of the operations of the Organization it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures of federal awards are recognized in the accounting period when the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The grant expenditure do not include any indirect costs and, as such, the Organization has not made any elections regarding the 10% de minimis cost rate as permitted in the Guidance, Sections 200.414.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures of federal awards are recognized in the accounting period when the liability is incurred.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures of federal awards are recognized in the accounting period when the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The grant expenditure do not include any indirect costs and, as such, the Organization has not made any elections regarding the 10% de minimis cost rate as permitted in the Guidance, Sections 200.414.
The grant expenditures do not include any indirect costs and, as such, the Organziation has not made any elections regarding the 10% de minimis cost rate as permitted in the Guidance, Section 200.414.
Title: Subrecipients
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures of federal awards are recognized in the accounting period when the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The grant expenditure do not include any indirect costs and, as such, the Organization has not made any elections regarding the 10% de minimis cost rate as permitted in the Guidance, Sections 200.414.
The Organization does not pass any of their federal funding to subrecipients.