Notes to SEFA
Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: SEE NOTES NEXT TAB
De Minimis Rate Used: N
Rate Explanation: N/A
The Schedule of Expenditures of Federal Awards includes the federal grant activity of 17 Lincoln Street,
Inc. 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 Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because this schedule
presents only a selected portion of the operations of 17 Lincoln Street, Inc., it is not intended to and does
not present the financial position, changes in net assets, or cash flows of 17 Lincoln Street, Inc.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: SEE NOTES NEXT TAB
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures reported on this 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.
2. Pass-through entity identifying numbers are presented where available.
3. 17 Lincoln Street, Inc. has not elected to use the 10% de minims indirect cost rate as allowed
under the Uniform Guidance.
Title: NOTE 3 – SUMMARY OF PROGRAM EXPENDITURES
Accounting Policies: SEE NOTES NEXT TAB
De Minimis Rate Used: N
Rate Explanation: N/A
Capital advance (prior year) $ 845,500
Tenant rental assistance subsidy (current year) 68,724
$ 914,224