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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The organization used a negotiated indirect cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the National Minority AIDS Council under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the National Minority AIDS Council, it is not intended to and does not present the financial position, change in net assets, or cash flows of the National Minority AIDS Council.