Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: Certain amounts on the Schedule of Expenditures of Federal Awards are based on revenues recognized rather than expenses incurred due to the grant award being partially or fully based on a feefor- service platform rather than a cost reimbursement platform. In addition, Consejo Counseling and Referral Service maintains a continuing loan program on its schedule of expenditures of federal awards.
De Minimis Rate Used: N
Rate Explanation: Consejo Counseling and Referral Service has never requested nor received a negotiated indirect federal cost rate and directly allocates allowable costs to federal grants or contracts in accordance with the specific grant or contract requirements. Consejo Counseling and Referral Service may elect to apply the de minimis indirect rate of 10% of modified total direct costs allowed by the Uniform Guidance for federal awards when applicable, but did not apply such rate in 2023.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Consejo Counseling and Referral Service and is presented on the accrual basis of accounting. 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 (the Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.