Notes to SEFA
Title: NOTE A – 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. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Organization rather uses an indirect cost rate as approved by the
applicable federal grantor.
The accompany Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal
grant activity of the Organization 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 (CFR) 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 the Organization, it is not intended to and does
not present the financial position, changes in net assets, or cash flows of the Organization.
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. Negative amounts
shown on the Schedule, if any, represent adjustments or credits made in the normal course of
business to amounts reported as expenditures in prior years.
The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under
the Uniform Guidance. The Organization rather uses an indirect cost rate as approved by the
applicable federal grantor.
Title: NOTE B – Pass-Through Entities
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. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Organization rather uses an indirect cost rate as approved by the
applicable federal grantor.
The Organization receives certain federal grants as subawards from non-federal entities. Passthrough
entities, when applicable, have been identified in the Schedule.
Title: NOTE C – Reconciliation of Schedule of Federal Awards to Financial Statement
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. Negative amounts shown on the Schedule, if any, represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The Organization rather uses an indirect cost rate as approved by the
applicable federal grantor.
The following reconciles the schedule of expenditures of federal awards to the financial statements
for the year ended June 30, 2024: