Notes to SEFA
Accounting Policies: Basis of Accounting: The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and state grant activity of the Organization for the year June 30, 2024. The information in this schedule is presented in accordance with the requirements of the Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements 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 presnt the financial position, changes in net position, or cash flows of the Organization. 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 as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimus rate.