Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. 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 Center has elected not to use the 10% de minimums indirect cost rate allowed under Uniform Guidance.
The schedule of expenditures of federal awards includes federal grant activity of Horizon Education Centers (“the Center”) and is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
Title: SUBSEQUENT EVENTS
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. 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 Center has elected not to use the 10% de minimums indirect cost rate allowed under Uniform Guidance.
In preparing the schedule of expenditures of federal awards, the Center has evaluated events subsequent to the date of the report through August 30, 2024, which is the date the schedule of expenditures of federal awards were available to be issued.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. 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 Center has elected not to use the 10% de minimums indirect cost rate allowed under Uniform Guidance.
The Center provided no federal awards to subrecipients.