Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards 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 not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes federal award activity of Nevada Partnership for Homeless Youth (the Organization) under programs of the federal government for the year ended June 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 (Uniform Guidance) and Title 45 U.S. Code of Federal Regulations Part 75, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for HHS Awards (Uniform Guidance). Because this schedule only presents a select portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, functional expenses, or cash flows of the Organization.
Title: PRIOR YEAR EXPENDITURES
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards 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 not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
During the year ended June 30, 2024, one grantor allowed the Organization to draw additional expenditures from July 1, 2022 through June 30, 2023. As a result, the June 30, 2024 schedule of expenditures of federal awards includes $39,814 in expenditures from the year ended June 30, 2023.