Notes to SEFA
Title: NOTE 3 - AMOUNTS PROVIDED TO SUBRECIPIENTS
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 Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Negative amounts shown on the Scheudle represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entitiy identifying numbers are presented where avaliable.
De Minimis Rate Used: N
Rate Explanation: WSLB has elected not to used the ten percent de minimis inderect rate allowed under Uniform Guidance.
No Federal awards expenditures were provided to subrecipients during the year ended June 30, 2024.
Title: NOTE 4 - RELATIONSHIP OF SCHEDULE OF FEDERAL AWARDS TO THE FINANCIAL STATEMENTS
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 Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Negative amounts shown on the Scheudle represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entitiy identifying numbers are presented where avaliable.
De Minimis Rate Used: N
Rate Explanation: WSLB has elected not to used the ten percent de minimis inderect rate allowed under Uniform Guidance.
Consistent with mangements' policy, federal awards are recorded in government service contracts along with other government service contracts from non-federal sources. As a result, the amount of total federal awards expended on the schedule does not agree to total government service contracts on the Statement of Activities as presented in the Organization's audited financial statements as of and for the year ended June 30, 2024.