Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Spaulding for Children has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Spaulding for Children under programs of the federal government for the year ended September 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 Spaulding for Children, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Spaulding for Children.
Title: Relationship to Basic Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Spaulding for Children has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The following schedule is a reconciliation between the government contract revenue reported on the statement of activities and the schedule of federal awards:
Government contracts
Adoption Opportunities Program $9,626,579
Other contract revenues and grants 56,296
Total government contracts per the financial statements 9,682,875
Less: non-federal government awards (56,296)
Total federal revenues per the schedule of federal awards $9,626,579