Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures of federal awards are recognized 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 allowed or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimus indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Heifer Project International (the Organization) under programs of the federal government for the year ended June 30, 2024. All federal awards received directly from federal agencies, as well as those
awards that are passed through other government agencies, are included in the Schedule. 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the consolidated financial statements. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net position or cash flows of
the Organization.
Title: Note 2. Significant Accounting Policies
Accounting Policies: Expenditures of federal awards are recognized 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 allowed or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimus indirect cost rate allowed under Uniform Guidance.
Expenditures of federal awards are recognized 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 allowed or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
Title: Note 3. Indirect Cost Rate
Accounting Policies: Expenditures of federal awards are recognized 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 allowed or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimus indirect cost rate allowed under Uniform Guidance.
The Organization has elected not to use the 10% de minimus indirect cost rate allowed under Uniform
Guidance.