Notes to SEFA
Title: NOTE A | BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain expenditures are not allowed or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Lessie Bates Davis Neighborhood House, Inc. (the “Neighborhood House’) 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 for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Neighborhood House, it is not intended and does not present the financial position, changes in net position, or cash flows of the Neighborhood House. Federal awards passed through other government agencies are included on the schedule.
Title: NOTE B | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain expenditures are not allowed or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain expenditures are not allowed or are limited to reimbursement.
Title: NOTE C | NONCASH ASSISTANCE, FEDERAL INSURANCE AND LOAN GUARANTEES
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain expenditures are not allowed or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Neighborhood House received $375,612 in local, noncash assistance for the AmeriCorps program for the year ended June 30, 2024. The Neighborhood House did not receive any federal guaranteed loans or federal insurance for any of its programs for the year ended June 30, 2024.
Title: NOTE D | SUBRECIPIENTS
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain expenditures are not allowed or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Neighborhood House did not pass any federal awards through to subrecipients during the year ended June 30, 2024.
Title: NOTE E | INDIRECT COST RATE
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain expenditures are not allowed or are limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Neighborhood House elected to use the de minimis indirect cost rate of 10%.