Notes to SEFA
Title: Note 1. 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: Y
Rate Explanation: The Center has elected to utilize the ten percent de minimis indirect cost rate as of December 31, 2023.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Brookland Center for Commuinity Economic Change (the "Center") under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance witht eh 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 Center, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Center.
Title: Note 2. Summary of Significant Accounting Policies for Federal Awards
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: Y
Rate Explanation: The Center has elected to utilize the ten percent de minimis indirect cost rate as of December 31, 2023.
Expenditures reported on the Schedule 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.
Title: Note 3. Indirect Cost Rate
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: Y
Rate Explanation: The Center has elected to utilize the ten percent de minimis indirect cost rate as of December 31, 2023.
The Center has elected to utilize the ten percent de minimis indirect cost rate as of December 31, 2023.