Notes to SEFA
Title: Significant Accounting Policies Used to Prepare the SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Center for Independent Living of South Florida, Inc. (the “Center”) under programs of federal government for the year ended September 30, 2023. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Center.
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, as applicable.
The Center elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. No amounts were provided to subrecipients. There were no loans or loan guarantees outstanding at year-end.
The grant and contract revenue amounts received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor/contract agencies would become a liability of the Center. In the opinion of management, all grant and contract expenditures are in compliance with the terms of the agreements and applicable federal and state laws and other applicable regulations.
De Minimis Rate Used: N
Rate Explanation: The Center elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Center for Independent Living of South Florida, Inc. (the “Center”) under programs of federal government for the year ended September 30, 2023. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Center.
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, as applicable.
The Center elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. No amounts were provided to subrecipients. There were no loans or loan guarantees outstanding at year-end.
The grant and contract revenue amounts received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor/contract agencies would become a liability of the Center. In the opinion of management, all grant and contract expenditures are in compliance with the terms of the agreements and applicable federal and state laws and other applicable regulations.
Title: De Minimis Cost Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Center for Independent Living of South Florida, Inc. (the “Center”) under programs of federal government for the year ended September 30, 2023. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Center.
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, as applicable.
The Center elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. No amounts were provided to subrecipients. There were no loans or loan guarantees outstanding at year-end.
The grant and contract revenue amounts received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor/contract agencies would become a liability of the Center. In the opinion of management, all grant and contract expenditures are in compliance with the terms of the agreements and applicable federal and state laws and other applicable regulations.
De Minimis Rate Used: N
Rate Explanation: The Center elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Center elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.