Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedule) includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with accounting principles generally accepted in the United States of America as applicable to not-for-profit organizations and the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). 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. The Organization did not expend any federal awards during the year ended December 31, 2023 in the form of noncash assistance.
De Minimis Rate Used: N
Rate Explanation: The Organization expended indirect costs using a multiple allocation base method and did not elect to use the 10%de minimis indirect cost rate as allowed under the Uniform Guidance.
This schedule of expenditures of federal awards summarizes the expenditures of the Organization under programs of the federal and state governments for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Oragization it is not intended to and does not present the financial position, change in net assets, or cash flows of the Organization. Expenditures reported on the 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.
Title: NOTE 2 INDIRECT COST RATE
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedule) includes the federal grant activity of the Organization and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with accounting principles generally accepted in the United States of America as applicable to not-for-profit organizations and the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). 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. The Organization did not expend any federal awards during the year ended December 31, 2023 in the form of noncash assistance.
De Minimis Rate Used: N
Rate Explanation: The Organization expended indirect costs using a multiple allocation base method and did not elect to use the 10%de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.