Notes to SEFA
Title: Note 1—Basis of presentation
Accounting Policies: Expenditures reported on the SEFA 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 Association has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (“SEFA”) includes the federal grant activity of American Library Association (the “Association”) for the year ended August 31, 2024. The information in the SEFA is presented in accordance with the requirements of the Uniform Guidance. Because the SEFA presents only a selected portion of the operations of the Association, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Association.
Title: Note 3—Nonmonetary assistance
Accounting Policies: Expenditures reported on the SEFA 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 Association has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Association neither received nor disbursed federal awards in the form of nonmonetary assistance for the year ended August 31, 2024.
Title: Note 4—Insurance and loans or loan guarantees
Accounting Policies: Expenditures reported on the SEFA 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 Association has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
During the year ended August 31, 2024, the Association received no loans, loan guarantees, or other federal assistance for the purpose of administering federal programs.