Notes to SEFA
Title: 1) General
Accounting Policies: Expenditures reported in the SEFA are reported using 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.
De Minimis Rate Used: N
Rate Explanation: The New Mexico Immigrant Law Center has elected not to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) presents the federal financial assistance programs of the New Mexico Immigrant Law Center (NMILC). The information in this Schedule is presented in accordance with 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 this Schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: 2) Basis of Accounting
Accounting Policies: Expenditures reported in the SEFA are reported using 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.
De Minimis Rate Used: N
Rate Explanation: The New Mexico Immigrant Law Center has elected not to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported in the Schedule are reported using 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. NMILC has elected not to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance.
Title: 3) Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported in the SEFA are reported using 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.
De Minimis Rate Used: N
Rate Explanation: The New Mexico Immigrant Law Center has elected not to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance.
The following is a reconciliation of the expenditures reported on the Schedule to the expenses reported in the statement of activities:
Title: 4) Assistance Listing Number
Accounting Policies: Expenditures reported in the SEFA are reported using 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.
De Minimis Rate Used: N
Rate Explanation: The New Mexico Immigrant Law Center has elected not to use the ten percent (10%) de minimis indirect cost rate allowed under the Uniform Guidance.
The federal granting agency is responsible for providing NMILC with the Assistance Listing Number (ALN) for each grant or contract. In cases where the federal granting agency did not provide the ALN to NMILC, other available identifying numbers are presented on the Schedule. For pass-through awards, the pass-through granting agency is responsible for providing NMILC with pass-through grantor numbers. In cases where the pass-through granting agency did not provide this number to NMILC and it was not otherwise determinable, it is noted as “not available” on the Schedule.