Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash basis of accounting, in which revenues are recorded when received rather than when susceptible to accrual, and expenditures are recorded when paid rather than when the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The Center elected not to use the 10% de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Southwest Center for Educational Excellence for the year ended June 30, 2024, and is presented on the modified cash basis of accounting as described in the paragraph below. 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of the financial statements.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash basis of accounting, in which revenues are recorded when received rather than when susceptible to accrual, and expenditures are recorded when paid rather than when the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The Center elected not to use the 10% de minimis indirect cost rate.
Southwest Center for Educational Excellence did not provide funds to subrecipients in the current year.