Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Nebraska Community Foundation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the consolidated financial statements. Federal expenditures are considered to have occurred when the expense transactions associated with the grant occur, including expenses paid with program income funds. Program income is recognized when received.
De Minimis Rate Used: N
Rate Explanation: The Foundation did not elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414.
The accompanying schedule of federal awards includes the federal grant activity of Nebraska Community Foundation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the consolidated financial statements. Federal expenditures are considered to have occurred when the expense transactions associated with the grant occur, including expenses paid with program income funds. Program income is recognized when received.
Title: Subrecipients
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Nebraska Community Foundation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the consolidated financial statements. Federal expenditures are considered to have occurred when the expense transactions associated with the grant occur, including expenses paid with program income funds. Program income is recognized when received.
De Minimis Rate Used: N
Rate Explanation: The Foundation did not elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414.
The Foundation provided federal awards to subrecipients as detailed above
Title: Indirect Costs
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Nebraska Community Foundation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the consolidated financial statements. Federal expenditures are considered to have occurred when the expense transactions associated with the grant occur, including expenses paid with program income funds. Program income is recognized when received.
De Minimis Rate Used: N
Rate Explanation: The Foundation did not elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414.
The Foundation did not elect to use the ten percent de minimis indirect cost rate as allowed in the Uniform Guidance, 2 CFR 200.414