Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the cost principles contained in Uniform Guidance, wherein certain types of expenditures are now allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The organization uses a negotiated indirect cost rate.
The accompanying schedule of expenditures of federal awards (“the Schedule") includes the federal award activity of the he Organization for the 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 the Organization, it is not intended to and does not present the
financial position, changes in net assets or cash flows of the Organization. The amounts reported
on the schedule have been reconciled to and are in agreement with amounts recorded in the
accounting records from which the financial statements have been reported.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the cost principles contained in Uniform Guidance, wherein certain types of expenditures are now allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The organization uses a negotiated indirect cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the cost principles contained
in Uniform Guidance, wherein certain types of expenditures are now allowable or limited as to
reimbursement.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the cost principles contained in Uniform Guidance, wherein certain types of expenditures are now allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The organization uses a negotiated indirect cost rate.
The organization has not elected to use the 10-percent de minimis cost rate as allowed under Uniform Guidance.