Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Salvation Army Twin Cities (Minneapolis and Saint Paul) Operating Units - Operating Fund (the Army) for the year ended September 30, 2024, and is presented on the accrual basis of accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Army did not elect to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Salvation Army Twin Cities (Minneapolis and Saint Paul) Operating Units - Operating Fund (the Army) for the year ended September 30, 2024, and is presented on the accrual basis of accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
Title: SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Salvation Army Twin Cities (Minneapolis and Saint Paul) Operating Units - Operating Fund (the Army) for the year ended September 30, 2024, and is presented on the accrual basis of accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Army did not elect to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
Indirect Cost Rate
The Army did not elect to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
Loan Programs with Continuing Compliance Requirements
The Home Investment Partnerships Program (Federal Assistance Listing No. 14.239) is administered directly by the U.S. Department of Housing and Urban Development, and balances and transactions related to this program are included in the Army’s basic financial statements. Loans outstanding at the beginning of the year, with a balance of $0 as of September 30, 2024, are included in the federal expenditures presented in the accompanying schedule of expenditures of federal awards.
Title: NON-CASH ASSISTANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Salvation Army Twin Cities (Minneapolis and Saint Paul) Operating Units - Operating Fund (the Army) for the year ended September 30, 2024, and is presented on the accrual basis of accounting. The information in this 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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Army did not elect to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
The Army received non-cash assistance during the year ended September 30, 2024, at no cost, in the form of food provided to the Army by Second Harvest Heartland and The Food Group MN, Inc., passed through from the U.S. Department of Agriculture. Total expenditures under Assistance Listing Number 10.569 represent non-cash assistance.