Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the UWSELA financial statements for the year ended June 30, 2024. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (“the Schedule”) includes the federal grant activity of United Way of Southeast Louisiana (“UWSELA”) under programs of the federal government for the fiscal 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 UWSELA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of UWSELA. UWSELA is defined in Note 1 to the financial statements for the year ended June 30, 2024. All federal awards received directly from federal agencies are included on the schedule, as well as federal awards passed-through other government agencies, as applicable.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the UWSELA financial statements for the year ended June 30, 2024. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the UWSELA financial statements for the year ended June 30, 2024. Such
expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the
preparation of, the basic financial statements.
Title: Relationship to Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the UWSELA financial statements for the year ended June 30, 2024. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
Federal revenues of $1,561,950 are included in the Statement of Activities in the category “Grant and program revenue.”
Title: De Minimis Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting, which is described in Note 1 to the UWSELA financial statements for the year ended June 30, 2024. Such expenditures are recognized following the cost principles contained in accordance with the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
During the year ended June 30, 2024, UWSELA elected to use the 10% de minimis cost rate as covered in §200.414 of the Uniform Guidance.