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 principles contained in the Uniform Guidance, wherein certail type of expensitures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization uses the cost rate approved by Department of Labor.
The accompanying schedule of expenditures of federal awarrds(the Schedule) inlcudes the federal award activity of the Organization 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(CFR) 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 Organizations, it is not intended to and does not present the financial position, changes of net assets, or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: 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 certail type of expensitures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization uses the cost rate approved by Department of Labor.
Expenditures reported on the Schedule are reportted on the accrual basis of accounting. Such expenditures are recognized followint the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: 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 certail type of expensitures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization uses the cost rate approved by Department of Labor.
The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.