Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: SEE NEXT TAB
De Minimis Rate Used: Y
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant
activities of Maine Children's Trust under the 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 the Title 2
U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and
Audit Requirements of Federal Awards (Uniform Guidance). Because the schedule presents only a selected
portion of the operations of Maine Children's Trust, it is not intended to and does not present the financial
position, changes in net assets or cash flows of Maine Children's Trust.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: SEE NEXT TAB
De Minimis Rate Used: Y
Rate Explanation: N/A
Expenditures 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. Pass-through entity identifying numbers
are presented where available.
Title: Note 3 - Subrecipient Agreements
Accounting Policies: SEE NEXT TAB
De Minimis Rate Used: Y
Rate Explanation: N/A
Of the expenditures presented in the Schedule of Expenditures of Department Agreements, Maine
Children's Trust, Inc. provided awards to subrecipients in the amount of $6,111,701 and $646,335 from the
Maternal, Infant, and Early Childhood Home Visiting Cluster (award number CDO-23-4230) and Title IV-E
Prevention Program (award number CDO 23-4230), respectively.
Title: Note 4 - Indirect Cost Rate
Accounting Policies: SEE NEXT TAB
De Minimis Rate Used: Y
Rate Explanation: N/A
Maine Children's Trust has elected to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.