Notes to SEFA
Title: RECONCILIATION TO FINANCIAL STATEMENTS
Accounting Policies: (1) Expenditures reported on the SEFA 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 allowable or are limited as to reimbursement.(2) The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimus indirect cost rate as allowed under Uniform Guidance.
Total federal expenditures for the year ended June 30, 2024 reconciles to the Organization’s financial statements for the year ended June 30, 2024 as follows: