Notes to SEFA
Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: NOTE 1 – BASIS OF PRESENTATION, NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, NOTE 3 – SUBRECIPIENTS, NOTE 4 – INDIRECT COST RATES
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis indirect cost rate for its federal programs for the year ended September 30, 2024. The indirect cost rates used on the Corporation’s federal programs are determined by the relevant federal agency.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Alachua County Coalition for the Homeless and Hungry, Inc. (the “Corporation”) 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, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Corporation.
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE 1 – BASIS OF PRESENTATION, NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, NOTE 3 – SUBRECIPIENTS, NOTE 4 – INDIRECT COST RATES
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis indirect cost rate for its federal programs for the year ended September 30, 2024. The indirect cost rates used on the Corporation’s federal programs are determined by the relevant federal agency.
Expenditures represent: 1) allowable costs, determined in accordance with federal cost principles, for costreimbursement contracts; and 2) allowable billings for fixed-fee and units of service contracts.
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.
Title: NOTE 3 – SUBRECIPIENTS
Accounting Policies: NOTE 1 – BASIS OF PRESENTATION, NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, NOTE 3 – SUBRECIPIENTS, NOTE 4 – INDIRECT COST RATES
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis indirect cost rate for its federal programs for the year ended September 30, 2024. The indirect cost rates used on the Corporation’s federal programs are determined by the relevant federal agency.
The Corporation did not provide federal awards to subrecipients during the year ended September 30, 2024.
Title: NOTE 4 – INDIRECT COST RATES
Accounting Policies: NOTE 1 – BASIS OF PRESENTATION, NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, NOTE 3 – SUBRECIPIENTS, NOTE 4 – INDIRECT COST RATES
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis indirect cost rate for its federal programs for the year ended September 30, 2024. The indirect cost rates used on the Corporation’s federal programs are determined by the relevant federal agency.
The Corporation has elected to not use the 10% de minimis indirect cost rate for its federal programs for the year ended September 30, 2024. The indirect cost rates used on the Corporation’s federal programs are determined by the relevant federal agency.