Notes to SEFA
Accounting Policies: NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance for all awards, which follows criteria determined by the Department of Treasury for allowability of costs. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the SEFA (if any) represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. NOTE 1 BASIS OF ACCOUNTING The accompanying schedule of expenditures of federal awards (SEFA) includes the federal award activity of CCLF under programs of the federal government for the year ended December 31, 2023. The information in the SEFA is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). As the SEFA presents only a selected portion of the operations of CCLF, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CCLF.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.