Notes to SEFA
Title: Note 1. Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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. Negative amounts shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. The Organization has elected not to use the 10-percent de minimis indirect cost
rate as allowed under Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal award
activity of the Organization under programs of the Federal Government for the year ended June 30, 2024.
Information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements
for Federal Awards (Uniform Guidance). The Schedule presents only a selected portion of the operations of
the Organization; accordingly, it is not intended to and does not present the financial position, changes in net
assets or cash flows of the Organization.
Title: Note 2. Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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. Negative amounts shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. The Organization has elected not to use the 10-percent de minimis indirect cost
rate as allowed under Uniform Guidance.
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. Negative amounts shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. The Organization has elected not to use the 10-percent de minimis indirect cost
rate as allowed under Uniform Guidance.
Title: Note 3. Reconciliation of Financial Statements to Schedule of Expenditures of Federal Awards
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: 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. Negative amounts shown on the
Schedule represent adjustments or credits made in the normal course of business to amounts reported as
expenditures in prior years. The Organization has elected not to use the 10-percent de minimis indirect cost
rate as allowed under Uniform Guidance.
Grants and contributions without donor restrictions, and contracts in the Consolidated Statement of Activities
and Change in Net Assets included the following:
Grants and contributions $ 8,272,747
Contracts 11,024,376
Less: Non-Federal grants,contributions and contracts (18,364,968)
TOTAL EXPENDITURES OF FEDERAL AWARDS $ 932,155