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 the 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: The Organization has a negotiated indirect cost rate that they use rather than the 10% de minimis rate under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards is prepared on the accrual basis of accounting. The purpose of the schedule of expenditures of federal awards (the Schedule) is to present a summary of those activities of Lutheran Social Service of Minnesota and Affiliates (the Organization) that have been financed by the United States Government (federal awards). Federal awards received directly from federal agencies are included in the Schedule.
Additionally, all federal awards passed through from other entities have been included on the Schedule. Although the Organization is required to match certain grants, as defined in the grants, no such matching is included in the Schedule.
The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Organization, it is not intended to and does not present the consolidated financial position, statement of activities, or cash flows of the Organization.
Title: IN-KIND SUPPORT
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has a negotiated indirect cost rate that they use rather than the 10% de minimis rate under the Uniform Guidance.
The following shows the amount of in-kind support for volunteer hours obtained for the Senior Nutrition programs, Assistance Listing Numbers 93.045/93.053, which is required by the grant.
Congregate / Home Delivered / Total
Land of the Dancing Sky: $59,141 / $73,393 / $132,534
Central MN Council on Aging: $34,406 / $66,657 / $101,063
MN River Agency on Aging: $70,753 / $306,792 / $377,545
Total: $164,300 / $446,842 / $611,142
Title: LOAN OUTSTANDING
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has a negotiated indirect cost rate that they use rather than the 10% de minimis rate under the Uniform Guidance.
The balance of the loans outstanding for the HOME Investment Partnership Program, Assistance Listing number 14.239, as of September 30, 2024 is $454,500.