Notes to SEFA
Accounting Policies: Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
award activity of Plaza de Nuestra Comunidad (the Organization) under programs of the federal
government for the year ended June 30, 2024. The information in the 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). Therefore, some amounts presented in the Schedule may differ from amounts
presented in, or used in the preparation of, the financial statements. The Schedule is not intended
to and does not present the financial position, changes in net assets, or cash flows of the
Organization.
Summary of Significant 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.
The Organization has not elected to use the ten percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
The Organization did not pass any federal funds through to sub-recipients.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the ten percent de minimis indirect cost rate as allowed
under the Uniform Guidance.