Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule of Federal Expenditures 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 has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The organization did not expend federal awards in the form of loans or loan guarantees.
The Organization did not receive any federal non-cash assistance for the fiscal year ended December 31, 2023.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accounting policies and presentation of the Schedule of Expenditures of Federal Awards (SEFA) have been designed to conform to generally accepted accounting principles, including the reporting and compliance requirements of the Title 2 U.S> Code of Federal Regulations Part 200, Uniform Adminsitrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The amounts reported on the schedule have been reconciled to and are in material agreement with amounts recorded in the Organization's accounting records from which the basic consolidated financial statements have been reported.
For purposes of the SEA, federal awards include all grants, contracts, and similar agreements entered into directly with the federal governemnt and other pass-through entities. The Organization has obtained the Assistance Listing Number (ALN) numbers to ensure that all programs have been identified in the schedule. ALN numbers have been apprpriately listed by applicable programs. Federal programs with diferrent LN numbers that are closely related becasue they share common compliance requirements area defined as a cluster by the Uniform Guidance. A cluster is separely identified in the SEFA.
Title: Federal Pass-through Funds
Accounting Policies: Expenditures reported on the Schedule of Federal Expenditures 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 has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The organization did not expend federal awards in the form of loans or loan guarantees.
The Organization did not receive any federal non-cash assistance for the fiscal year ended December 31, 2023.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization is the sub-recipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass-through funds.
Title: Contingencies
Accounting Policies: Expenditures reported on the Schedule of Federal Expenditures 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 has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The organization did not expend federal awards in the form of loans or loan guarantees.
The Organization did not receive any federal non-cash assistance for the fiscal year ended December 31, 2023.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Grant monies received and disbursed by the Organization are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, the Organization does not believe that such disallowance, if any, would have a material effect on the financial position of the Organization. As of December 31, 2023 there were no material questioned or disallowed costs as a result of grant audits in process or completed.