Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the
federal award activity of Sacred Heart Community Service (a California nonprofit corporation)
(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 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.
SUMMARY OF SIGNIFICANT 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 limited as to reimbursement. Pass_x0002_through entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The Organization's indirect cost rate for a given program is calculated by applying that program's proportional direct expenses to the overall pool of indirect expenses.