Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The Schedule includes the federal activity of United Way ATX and is presented 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. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the financial statements.
De Minimis Rate Used: Y
Rate Explanation: United Way ATX has elected 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 United Way for Greater Austin (“United Way ATX”) under the 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 for Federal Awards (“Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of United Way ATX, it is not intended to and does not present the financial position, changes in
net assets, or cash flows of United Way ATX.
Title: Summary of Significant Accounting Policies
Accounting Policies: The Schedule includes the federal activity of United Way ATX and is presented 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. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the financial statements.
De Minimis Rate Used: Y
Rate Explanation: United Way ATX has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Schedule includes the federal activity of United Way ATX and is presented 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. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the financial statements. United Way ATX has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.