Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in 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: In accordance with Section 2 U.S. Code of Federal Regulations Part 200.412 the Organization is allowed to elect to use the ten percent de minimis indirect cost rate. The Organization did not elect to use the 10% de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Boys and Girls Club of Lawrence (the Organization) 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). 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.
Title: CLASSIFICATION OF EXPENDITURES
Accounting Policies: Expenditures reported in 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: In accordance with Section 2 U.S. Code of Federal Regulations Part 200.412 the Organization is allowed to elect to use the ten percent de minimis indirect cost rate. The Organization did not elect to use the 10% de minimis indirect cost rate.
The schedule includes $364,520 of expenditures of federal awards under Coronavirus State and Local Fiscal Recovery Funds, Assistance Listing Number 21.027, that were recorded as prepaid expenses in the Statement of Financial Position of the Organization during the year ended December 31, 2023.