Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Urban Restoration Enhancement Corporation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 US. Code of Federal Regulations for Federal Awards (Unifo1m Guidance). Therefore, some amounts presented in this schedule may differ from the amounts presented in the preparation
of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: No indirect costs used.
The accompanying schedule of expenditures of federal awards includes the federal grant activity
of Urban Restoration Enhancement Corporation and is presented on the accrual basis of
accounting. The information in this schedule is presented in accordance with the requirements of
Title 2 US. Code of Federal Regulations for Federal Awards (Unifo1m Guidance). Therefore,
some amounts presented in this schedule may differ from the amounts presented in the preparation
of the basic financial statements.
Title: Reconciliation of Expenses to Federal Expenditures
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Urban Restoration Enhancement Corporation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 US. Code of Federal Regulations for Federal Awards (Unifo1m Guidance). Therefore, some amounts presented in this schedule may differ from the amounts presented in the preparation
of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: No indirect costs used.
Total expenses
Federal loans included in expenditures
Non-federal expenditures
Total Federal Expenditures
C. Amounts Passed Through to Subrecipients
$1 ,847,308
5,294,761
(795,910)
6,346.159
Title: Amounts Passed Through to Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Urban Restoration Enhancement Corporation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 US. Code of Federal Regulations for Federal Awards (Unifo1m Guidance). Therefore, some amounts presented in this schedule may differ from the amounts presented in the preparation
of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: No indirect costs used.
During the year ended June 30, 2024, the organization did not pass through any federal funding to subrecipients.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Urban Restoration Enhancement Corporation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 US. Code of Federal Regulations for Federal Awards (Unifo1m Guidance). Therefore, some amounts presented in this schedule may differ from the amounts presented in the preparation
of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: No indirect costs used.
Urban Restoration Enhancement Corporation has not elected to use the I 0% de minimis indirect cost rate.