Notes to SEFA
Title: NOTE 2 - FEDERAL ASSISTANCE LISTINGS NUMBER
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Local First Arizona Foundation (Local First), for the year ended December 31, 2022, and is presented on the accrual basis of accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in thepreparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Local First has elected not to use the 10 percent de minimis indirect cost rate as allowed under theUniform Guidance.
The program titles and Federal Assistance Listings numbers were obtained from the federal or passthrough grantor or the 2022 Federal Assistance Listings. When no Federal Assistance Listings number had been assigned to a program, the two digit federal agency identifier and the federal contract number were used. When there was no federal contract number, the 2-digit federal agency identifier and the word "unknown were used.
Title: NOTE 4 - SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Local First Arizona Foundation (Local First), for the year ended December 31, 2022, and is presented on the accrual basis of accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in thepreparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Local First has elected not to use the 10 percent de minimis indirect cost rate as allowed under theUniform Guidance.
Local First did not pass through federal funding to subrecipients during the year ended December 31, 2022.