Notes to SEFA
Title: GENERAL
Accounting Policies: Expenditures reported on the Schedule are reported on an other comprehensive 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 entity identifying numbers are presented where
available. See Note O for a reconciliation.
De Minimis Rate Used: N
Rate Explanation: Used indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards and Other Financial Assistance (the
Schedule) programs presents the activity of all financial assistance programs of the Council. All financial assistance received directly or indirectly from Federal, State, and local agencies is included in the Schedule.
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on an other comprehensive 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 entity identifying numbers are presented where
available. See Note O for a reconciliation.
De Minimis Rate Used: N
Rate Explanation: Used indirect cost rate.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award
activity of the Council under programs of the federal government for the year ended January 31, 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 the Council, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Council.
Title: NONFINANCIAL CONTRIBUTIONS AND IN-KIND SUPPORT
Accounting Policies: Expenditures reported on the Schedule are reported on an other comprehensive 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 entity identifying numbers are presented where
available. See Note O for a reconciliation.
De Minimis Rate Used: N
Rate Explanation: Used indirect cost rate.
A portion of the expenses for donated services and other in-kind support are excluded from the Council’s
financial statements in accordance with FASB ASC 958-605-25-16. Donated services and other in-kind support are included in the accompanying Schedule in accordance with other applicable grant agreements, which is described in Note H to the Council’s financial statements.