Notes to SEFA
Title: NOTE A-BASIS OF PRESENTATION
Accounting Policies: NOTE B-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES-EXPENDITURES REPORTED ON THE SEFA ARE REPORTED ON THE MODIFIED CASH 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 AS ALLOWED UNDER THE UNIFORM GUIDANCE.
De Minimis Rate Used: N
Rate Explanation: THE ORGANIZATION HAS ELECTED NOT TO USE THE 10-PERCENT DE MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (SEFA) INCLUDES THE FEDERAL AWARD ACTIVITY OF THE ORGANIZATION UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED JUNE 30, 2023. THE INFORMATION IN THIS SEFA 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 SEFA 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: NOTE B-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE B-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES-EXPENDITURES REPORTED ON THE SEFA ARE REPORTED ON THE MODIFIED CASH 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 AS ALLOWED UNDER THE UNIFORM GUIDANCE.
De Minimis Rate Used: N
Rate Explanation: THE ORGANIZATION HAS ELECTED NOT TO USE THE 10-PERCENT DE MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
EXPENDITURES REPORTED ON THE SEFA ARE REPORTED ON THE MODIFIED CASH 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 AS ALLOWED UNDER THE UNIFORM GUIDANCE.