Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in 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.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the
federal grant activity of Greater Baybrook Alliance, Inc. and Subsidiary (collectively referred
to as the Organization) under programs for the federal government for the year ended June
30, 2024. 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). Because the
Schedule presents only a selected portion of the operations of the Organization, it is not
intended to and does not present the financial position, changes in net assets, or cash flows
of the Organization.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported in 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.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
Expenditures reported in 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.
Pass-through entity identifying numbers are presented where available.
Title: INDIRECT COST RATE
Accounting Policies: Expenditures reported in 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.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate
The Organization elected to use the 10% de minimis indirect cost rate as allowed under the
Uniform Guidance.