Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal
grant activity of the Partnership and is presented on the modified accrual basis of accounting, which is
the same basis as was used to prepare the fund financial statements. 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.
Therefore, some amounts presented in this Schedule may differ from amounts presented in or used in
the preparation of the basic financial statements.
Title: Summary of Significant Accounting Policies
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
Expenditures reported on the Schedule of expenditures of federal awards are reported on the modified
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 to
reimbursement.
Title: Reconciliation of Schedule of Expenditures of Federal Awards to the Financial Statements
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The following is a reconciliation of the expenditures reported on the Schedule of expenditures of federal
awards to the expenditures reported in the Statement of Revenues, Expenditures, and changes in Fund
Balance included in accompanying financial statements:
Expenditures according to Schedule of expenditures of federal awards $ 9,117,471
Expenditures funded by nonfederal sources 9,586,947
Expenditures on financial statements $ 18,704,418
Title: Indirect Cost Rate
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The Partnership has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance for the year ended September 30, 2023.