Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal
award activity of the Organization under programs of the federal government for the year ended June 30,
2024. The information in the schedule is presented in accordance with the requirements of Title 2 U.S.
Code of Federal Regulation (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 for the Organization, it is not intended to and does not present the
financial position, changes in net assets, or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
Expenditures reported in 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 allowed or are limited to reimbursement. Negative amounts shown
in the Schedule represent adjustments or credits made in the normal course of business to amounts
reported as expenditures in prior years.
Title: Indirect Cost Rate
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Title: Subrecipients
Accounting Policies: The significant accounting policies used in preparing the SEFA follow the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Not applicable
The Organization did not provide any federal awards to subrecipients for the year ended June 30, 2024.