Notes to SEFA
Title: Summary of significant accounting policies
Accounting Policies: Expenditures reported on the Schedule 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: Y
Rate Explanation: Beloved Community Family Wellness Center has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule 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.
Title: Insurance, loans or loan guarantees
Accounting Policies: Expenditures reported on the Schedule 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: Y
Rate Explanation: Beloved Community Family Wellness Center has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
There were no insurance, loans or loan guarantees outstanding as of and for the year ended August 31, 2024.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule 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: Y
Rate Explanation: Beloved Community Family Wellness Center has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
There were no amounts provided to subrecipients from any federal program during the year ended August 31, 2024.
Title: Non-cash commodities
Accounting Policies: Expenditures reported on the Schedule 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: Y
Rate Explanation: Beloved Community Family Wellness Center has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
There were no non-cash commodities expended during the year ended August 31, 2024.