Notes to SEFA
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Coalition for Responsible Community Development and Subsidiaries (collectively, the Corporation), and is presented on the accrual basis of accounting. The information in the SEFA 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 the SEFA may differ from amounts presented in, or used in the preparation of, the consolidated financial statements.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying SEFA is presented using the accrual basis of accounting, which is described in the notes to the consolidated financial statements of the Corporation as of and for the year ended December 31, 2023.