Notes to SEFA
Title: Summary of Significant Accounting Policies Applicable to the Schedule of
Expenditures of Federal Awards
Accounting Policies: 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. GAAP
De Minimis Rate Used: N
Rate Explanation: The Organization did not use the 10% de minimis indirect cost rate as
covered in section 200.414 of the Uniform Guidance.
(a) Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”)
includes the federal grant activity of the ‘Aha Pūnana Leo (Organization) under
programs of the federal government for the year ended December 31, 2023. 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. 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 Organization did not use the 10% de minimis indirect cost rate as
covered in section 200.414 of the Uniform Guidance.
(b) Summary of Significant Accounting Policies
Expenditures reported on the Schedule are reported on the full accrual 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. Any 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.