Notes to SEFA
Title: Note C Relationship of Schedule of Expenditures of Federal Awards to Financial Statements
Accounting Policies: Note A. Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the expenditures of CASAS under programs of the federal government 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operation of CASAS, it is not intended to and does not present the financial position, changes in net assets and cash flows of CASAS.
Note B. Basis of Accounting
This Schedule is prepared on the same basis of accounting as CASAS financial statements. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursements.
De Minimis Rate Used: N
Rate Explanation: CASAS did not elect to use 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Consistent with management's policy, federal awards are recorded in various revenue categories. As a result, the amount of total federal awards on the Schedule does not agree to the total grant revenue on the Statement of Activities.