Notes to SEFA
Title: Note A. BASIS OF PRESENTATION
Accounting Policies: Note B
De Minimis Rate Used: N
Rate Explanation: Each contract includes an approved budget with itemized expenditures
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Boys
and Girls Club of the Big Island under programs of the federal government for the year ended June 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 Boys and Girls Club of the Big Island, it is not intended to and does not present
the financial position, changes in net assets, or cash flows of Boys and Girls Club of the Big Island.
Title: Note B. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Note B
De Minimis Rate Used: N
Rate Explanation: Each contract includes an approved budget with itemized expenditures
Basis of Accounting: Expenditures reported on this 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.
Indirect Cost Rate: The Organization has not elected to use the 10% de minimis cost rate.
Matching Requirements: Certain Federal Programs require non-Federal cost share to support the Federallyfunded
programs. The Organization has met the matching requirements. The Schedule does not include the
expenditure of non-Federal matching funds.
Title: Note C. SUBRECIPIENT PASS THROUGH AWARDS
Accounting Policies: Note B
De Minimis Rate Used: N
Rate Explanation: Each contract includes an approved budget with itemized expenditures
No Federal awards were passed through to subrecipients.