Notes to SEFA
Title: Sub-Recipients
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal awards programs of (New Hope) for the year ended June 30, 2024. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included in the schedule.
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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements.
The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting used by New Hope to report to the federal government. 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: New Hope has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
New Hope did not provide federal awards to sub-recipients.