Notes to SEFA
Title: Reconciliation of the Schedule of Expenditures of Federal Awards to the Statement of Activities and Changes in Net Assets
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 certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are allocated.
The accompanying Schedule includes the federal grant activity of Meals on Wheels Western Michigan for the year ended September 30, 2024. This Schedule is presented using the accrual basis of accounting.
Revenues in the basic financial statements reconcile with this Schedule as follows:
Year ended September 30, 2024
Federal and state grants per the financial statements
$ 2,611,487
State grants
(604,814)
Expenditures per the Schedule of Expenditures of Federal Awards
$ 2,006,673