Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Uniform Guidance allows non-federal entities, such as the Network, to elect to charge a de minimis rate of ten percent of modified direct costs as its indirect cost rate that may be used indefinitely. The Network has elected to not use the de minimis rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Network under programs of the federal government for the year ended December 31, 2023. The information in the 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 Network, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Network.
Title: Relationship to Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Uniform Guidance allows non-federal entities, such as the Network, to elect to charge a de minimis rate of ten percent of modified direct costs as its indirect cost rate that may be used indefinitely. The Network has elected to not use the de minimis rate.
Amounts reported in the accompanying schedule may not agree with the amounts reported in the related federal financial reports filed with grant agencies due to timing differences or capitalization in the financial reports of some expenditures on the accompanying schedule.