Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Expenditures – Expenditures reported on the Schedule are reported on the cash basis of accounting with the exception of payroll and benefits which 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. Negative amounts
shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: n/a
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Cal Poly Humboldt Sponsored Programs Foundation (SPF) under programs of the federal government for the year ended June 30, 2024. 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 SPF, it is not intended to and does not present the financial position, changes in net position, or cash flows of SPF.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: Expenditures – Expenditures reported on the Schedule are reported on the cash basis of accounting with the exception of payroll and benefits which 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. Negative amounts
shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: n/a
Expenditures – Expenditures reported on the Schedule are reported on the cash basis of accounting with the exception of payroll and benefits which 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entities – Pass-through entity identifying numbers are presented where available.
Indirect cost rate – SPF has elected not to use the 10% de minimis indirect cost rate allowed under the
Uniform Guidance.