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 Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to federal, state, or local funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of A Second Chance, Inc. and Affiliate (Organization) 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of 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.
Title: Allocation of Expenditures
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 Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to federal, state, or local funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
During the year, funds are received from various governmental entities on a reimbursement basis based on census data and approved billing rates and are not identified by Assistance Listing Number (ALN). At year-end, the Organization is provided with revenue information by ALN. The City of Philadelphia did not provide the revenue information by ALN for revenues totaling $4,220,387 for the year ended June 30, 2024; therefore, the revenue was assumed to be federal monies included in ALN 93.658 per the guidance in the City of Philadelphia Subrecipient Audit Guide for the purpose of the Schedule.