Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are charged to federal grants. As a result, the Organization did not utilize the 10% de minimis indirect cost rate, as provided under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Alexander Youth Network and Subsidiaries (the “Organization”) for the year ended September 30, 2024. The information in the 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 (the “Uniform Guidance”). Because the Schedule represents only a selected portion of the Organization’s operations, it is not intended to, and does not, present the financial position, changes in net assets or cash flows of the Organization.
Title: Entities Included in the Schedule
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are charged to federal grants. As a result, the Organization did not utilize the 10% de minimis indirect cost rate, as provided under the Uniform Guidance.
Entities included in the Schedule are Alexander Youth Network and its wholly owned subsidiaries, The Relatives, Inc. and Youth Focus, Inc.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: No indirect costs are charged to federal grants. As a result, the Organization did not utilize the 10% de minimis indirect cost rate, as provided under the Uniform Guidance.
The Organization did not provide any funding to subrecipients during the year ended September 30, 2024.