Notes to SEFA
Title: Major Programs
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Camp Catanese Foundation (the Organization) and is presented on the accrual basis of accounting. All federal receipts are recorded as revenue when the corresponding expense is incurred. 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. Federal revenue is included in governmental financial assistance on the statements of activities.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The requirements of the Uniform Guidance require all major programs, as determined by the auditor on a risk-based approach, be subject to specific control and/or compliance testing. In determining that at least 20% (40% for high-risk auditees) of federal expenditures were tested in accordance with single audit requirements, the following calculation was made: Total federal expenditures: $759,748. 40% of federal expenditures: $303,899. Programs selected for testing: U.S. Department of Health and Human Services: CFDA 84.425U American Rescue Plan - Elementary and Secondary School Emergency Relief $543,265. Total programs selected for testing $543,265. Percent of total federal expenditures tested 70%.
Title: Subrecipient Funding
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Camp Catanese Foundation (the Organization) and is presented on the accrual basis of accounting. All federal receipts are recorded as revenue when the corresponding expense is incurred. 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. Federal revenue is included in governmental financial assistance on the statements of activities.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Camp Catanese Foundation provided no pass-through funding to subrecipients in the year ending June 30, 2024.
Title: Indirect Costs
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Camp Catanese Foundation (the Organization) and is presented on the accrual basis of accounting. All federal receipts are recorded as revenue when the corresponding expense is incurred. 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. Federal revenue is included in governmental financial assistance on the statements of activities.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Camp Catanese Foundation has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance in the current year.