Notes to SEFA
Title: General Information
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certial financial reports submitted to federal or state funding agencies due to those reports being submitted on wither a cash or modified accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: There was no indirect cost and the de minimis rate was applied to the federal awards when available.
The accompanying schedule of expenditures of federeal awards presents the activities in all the federal awards programs of Communitites Resist Ins. (the "Organization"). All federal awards received directly from federal agencies as well as federal awards passed through other governmental agencies or not-for-profit organizations are included on the schedule.
Title: Relationship To Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certial financial reports submitted to federal or state funding agencies due to those reports being submitted on wither a cash or modified accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: There was no indirect cost and the de minimis rate was applied to the federal awards when available.
Federal expenditures are generally reported on the statements of functional expenses as program expenses. In ceetain programs, the expenditures reported in the financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards due to certain reports being prepared on the cash basis of accounting, capitalization of assets, or expenditures in excess of the contract budgets which are not allowable.