Notes to SEFA
Title: Note A
Accounting Policies: Accural Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: This is a direct grant which is very specific the what is can be used for
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of El Grito, Inc. under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirments of Title 2 U.S. Code of Federal Regulations, Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Feederal Awards (Uniform Guidance). The Schedule presents only a selected portion of the operations of El Grito, Inc., it is not intended to and does not present the financial postion, changes in net assets, or cash flows of El Grito, Inc.
Title: Note B
Accounting Policies: Accural Basis of Accounting
De Minimis Rate Used: N
Rate Explanation: This is a direct grant which is very specific the what is can be used for
1. Expenditures reported on the Schedule are reported on the accural 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 reimbursements. 2. El Grito has elected not use the 10% de minimums indirect cost rate as allowed under the Uniform Guidance. Headstart Program $1,809,611, American Rescue Plan $5,988, Federal Funds from page 5 $1,815,599. USDA Food Program, page 5 $157, 571, Total federal funds expenditures above $1,815,599, page 5.