Notes to SEFA
Title: Note 1 - Basis of Accounting
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance. Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: HMI utilized the federally approved de minimus indirect cost rate.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of The Hetrick-Martin Institute, Inc. (“HMI”) under programs of the federal government
for the year ended June 30, 2024. Expenditures reported on the Schedule are reported using the accrual basis of accounting. Such expenditures are recognized and 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 the Organization, it is not intended to, and does not present, the financial position, changes in net assets, or cash flows of HMI.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance. Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: HMI utilized the federally approved de minimus indirect cost rate.
Expenditures reported on the Schedule of Expenditures of Federal Awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance. Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
Title: Note 3 - Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance. Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: HMI utilized the federally approved de minimus indirect cost rate.
HMI utilized the federally approved de minimus indirect cost rate.
Title: Note 4 - Subrecipients
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance. Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: Y
Rate Explanation: HMI utilized the federally approved de minimus indirect cost rate.
There were no amounts provided to subrecipients from Federal awards received during the year ended June 30, 2024.