Notes to SEFA
Title: General Information
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the grant activity of the Organization and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization elected to use the ten percent de-minimis cost rate.
The accompanying schedule of expenditures of federal awards presents the activities in all the federal financial award programs of the Organization. All financial awards received directly from federal agencies as are included on the schedule. well as financial awards passed through other governmental agencies or not-for-profit organizations.
Title: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the grant activity of the Organization and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization elected to use the ten percent de-minimis cost rate.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the grant activity of the Organization 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 (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the grant activity of the Organization and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization elected to use the ten percent de-minimis cost rate.
The Organization elected to use the ten percent de-minimis cost rate.
Title: Relationship to Basic Financial Statements
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the grant activity of the Organization and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization elected to use the ten percent de-minimis cost rate.
Federal award expenditures are reported on the statements of activities as functional and supporting expenses. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards financial assistance due to program expenditures exceeding grant limitations or capitalization policies required by U.S. GAAP.