Notes to SEFA
Title: Note 3—Reconciliation of the schedule of expenditures of federal awards to the statements of activities
Accounting Policies: The accompanying schedule of expenditures of federal awards (“SEFA”) includes the federal grant activity of Catholic Charities of Louisville, Inc. (the "Organization") and is presented on the accrual basis of accounting. The information in this schedule 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 ("Uniform Guidance"). Therefore, some amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Organization's approved indirect cost rate was 24.80% for the year ended June 30, 2024.
The following schedule is a reconciliation of the total expenditures of federal awards as shown on the schedule of expenditures of federal awards to the revenue shown as refugee program grants on the statements of activities, which is included as part of the Organization's financial statements. See Notes to SEFA for chart / table.