Notes to SEFA
Title: Indirect Cost Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of Community Resource Center Inc (Organization) under programs of the federal government for the year ended June 30, 2023. The information in the schedule is presented in accordance with the requirements of the Office of Management and Budget 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 basic financial statements. Expenditures reported on the Schedule 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.
De Minimis Rate Used: N
Rate Explanation: The auditee used direct costs only on all federal grant awards.
The Organization has elected not to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance.
Title: Non-cash Assistance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of Community Resource Center Inc (Organization) under programs of the federal government for the year ended June 30, 2023. The information in the schedule is presented in accordance with the requirements of the Office of Management and Budget 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 basic financial statements. Expenditures reported on the Schedule 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.
De Minimis Rate Used: N
Rate Explanation: The auditee used direct costs only on all federal grant awards.
Community Resource Center Inc. did not expend any non-cash assistance awards for the year ended June 30, 2024, that should be included in the Schedule of Expenditures of Federal Awards.
Title: Other Information
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of Community Resource Center Inc (Organization) under programs of the federal government for the year ended June 30, 2023. The information in the schedule is presented in accordance with the requirements of the Office of Management and Budget 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 basic financial statements. Expenditures reported on the Schedule 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.
De Minimis Rate Used: N
Rate Explanation: The auditee used direct costs only on all federal grant awards.
No insurance coverages in effect for the year ended June 30, 2024, were paid with federal funds. There were no loans or loan guarantees outstanding, and the Organization did not have federal grants requiring matching expenditures for the year ended June 30, 2024.