Notes to SEFA
Title: Note A - 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates are only applied for some grants and are based solely on allowable rates established with the grantor; communicated to the District in the associated grant agreement.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Senior Resources of West Michigan under programs of the federal government for the year ended September 30, 2024. 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 for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Senior Resources of West Michigan, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Senior Resources of West Michigan.
Title: Note D - Federal Income Reconciliation
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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rates are only applied for some grants and are based solely on allowable rates established with the grantor; communicated to the District in the associated grant agreement.
“See the Notes to the SEFA for chart/table”