Notes to SEFA
Title: Subrecipient Payments
Accounting Policies: Expenditures reported on the Schedule are reported in accordance with auditing standards generally accepted in the United States of America. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
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. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Bradley Angle has not elected the 10% de minimus indirect cost rate.
During the year ended June 30, 2024, Bradley Angle did not pass-through funding to subrecipients.