Notes to SEFA
Title: Note A - Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activities of Waiʻanae Community Re-Development Corporation (the
Organization) 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 Organization, it is not
intended to and does not present the financial position, changes in net assets, or cash flows of
the Organization.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activities of Waiʻanae Community Re-Development Corporation (the
Organization) 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 Organization, it is not
intended to and does not present the financial position, changes in net assets, or cash flows of
the Organization.