Notes to SEFA
Title: Note 1
Accounting Policies: Note 2 - Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on 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.
Ethiopian Tewahedo Social Services has elected not to use the 10 percent de minimis indirect
cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Ethiopian Tewahedo Social Services has elected not to use the 10 percent de minimis indirect
cost rate as allowed under the Uniform Guidance.
Note 1 - Basis of Presentation
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal
award activity of Ethiopian Tewahedo Social Services under programs of the federal government
for the year ended December 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, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Because the Schedule presents only a selected portion of the operations of Ethiopian Tewahedo
Social Services, it is not intended to and does not present the financial position, changes in net
assets, or cash flows of Ethiopian Tewahedo Social Services.