Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accouting. Such expenditures are recognized following, as applicable, either 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: The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowaed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the St. Nicks Alliance Corporation (the “Corporation”) 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 Requirements for Federal Awards (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of the Corporation, it is not intended to, and does not present the financial position, changes in net assets, or cash flows of the Corporation.
Title: Summaru of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accouting. Such expenditures are recognized following, as applicable, either 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: The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowaed under the Uniform Guidance.
Expenditures reported on the schedule are reported on the accrual basis of accouting. Such expenditures are recognized following, as applicable, either the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accouting. Such expenditures are recognized following, as applicable, either 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: The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowaed under the Uniform Guidance.
The Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowaed under the Uniform Guidance.