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: N
Rate Explanation: Weeks Educational and Social Advocacy Project, Inc. has applied for a 14% indirect cost rate, which has been their average indirect cost rate although the rate has been decreasing as the program expands.
The accompanying schedule of expenditures of federal awards (“the Schedule”) includes the grant activity of Weeks Educational and Social Advocacy Project, Inc. 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 Weeks Educational and Social Advocacy Project, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Weeks Educational and Social Advocacy Project, Inc.
Title: Note 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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: N
Rate Explanation: Weeks Educational and Social Advocacy Project, Inc. has applied for a 14% indirect cost rate, which has been their average indirect cost rate although the rate has been decreasing as the program expands.
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: N
Rate Explanation: Weeks Educational and Social Advocacy Project, Inc. has applied for a 14% indirect cost rate, which has been their average indirect cost rate although the rate has been decreasing as the program expands.
Weeks Educational and Social Advocacy Project, Inc. has applied for a 14% indirect cost rate, which has been their average indirect cost rate although the rate has been decreasing as the program expands.