Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The Schedule is presented using the accrual basis of accounting, which is described in the notes to the financial statements of the School as of and for the year ended June 30, 2024.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Starr King School for the Ministry (the School) and is presented using the accrual basis of accounting. The information in the 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). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: Relationship to Federal Financial Reports
Accounting Policies: The Schedule is presented using the accrual basis of accounting, which is described in the notes to the financial statements of the School as of and for the year ended June 30, 2024.
De Minimis Rate Used: N
Rate Explanation: The School has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Amounts reported in the Schedule agree with the amounts reported in the related federal financial reports in all material respects.