Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principals contained in The Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement. Clinton Ecumenical North has elected not to use the 10-percent de minimus indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Clinton Ecumenical North has elected not to use the 10-percent de minimIs indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Clinton Ecumenical North, Inc., and is presented on the accrual basis of accounting. 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 (Uni form Guidance) Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the presentation of, the financial statements.
Title: Other Forms of Assistance
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principals contained in The Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement. Clinton Ecumenical North has elected not to use the 10-percent de minimus indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Clinton Ecumenical North has elected not to use the 10-percent de minimIs indirect cost rate allowed under Uniform Guidance.
Clinton Ecumenical North has a mortgage guaranteed by HUD in the amount of $885,691.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principals contained in The Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement. Clinton Ecumenical North has elected not to use the 10-percent de minimus indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Clinton Ecumenical North has elected not to use the 10-percent de minimIs indirect cost rate allowed under Uniform Guidance.
Clinton Ecumenical North provided no federal awards to subrecipients during the fiscal year ended June 30, 2024.