Notes to SEFA
Title: BASIS OF PRESENTATION
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.
The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to funding agencies because those reports may be submitted on either a cash or modified accrual basis of accounting.
Expenditures of federal awards are reported on the statement of activities as operating expenses. In certain programs, the expenditures reported in the basic financial statements differ from the expenditures reported in the Schedule because other program expenditures and expenditures may exceed contract budget limitations and are therefore not included as expenditures of federal awards.
Pass-through entity identifying numbers are presented if applicable on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The indirect cost rate is calculated and approved annually by the Chapter’s funders and is based on the ratio of total indirect expenses to total direct labor. Accordingly, the 10% de minimis rate is not utilized.
The accompanying schedule of expenditures of federal awards (the Schedule) presents activities in all the federal, state, county, and city award programs of Pennsylvania Chapter, American Academy of Pediatrics (collectively, the Chapter) 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 Chapter, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Chapter.
Title: 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.
The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to funding agencies because those reports may be submitted on either a cash or modified accrual basis of accounting.
Expenditures of federal awards are reported on the statement of activities as operating expenses. In certain programs, the expenditures reported in the basic financial statements differ from the expenditures reported in the Schedule because other program expenditures and expenditures may exceed contract budget limitations and are therefore not included as expenditures of federal awards.
Pass-through entity identifying numbers are presented if applicable on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The indirect cost rate is calculated and approved annually by the Chapter’s funders and is based on the ratio of total indirect expenses to total direct labor. Accordingly, the 10% de minimis rate is not utilized.
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.
The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to funding agencies because those reports may be submitted on either a cash or modified accrual basis of accounting.
Expenditures of federal awards are reported on the statement of activities as operating expenses. In certain programs, the expenditures reported in the basic financial statements differ from the expenditures reported in the Schedule because other program expenditures and expenditures may exceed contract budget limitations and are therefore not included as expenditures of federal awards.
Pass-through entity identifying numbers are presented if applicable on the Schedule.
Title: PROGRAM AND INDIRECT EXPENSE ALLOCATION
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.
The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to funding agencies because those reports may be submitted on either a cash or modified accrual basis of accounting.
Expenditures of federal awards are reported on the statement of activities as operating expenses. In certain programs, the expenditures reported in the basic financial statements differ from the expenditures reported in the Schedule because other program expenditures and expenditures may exceed contract budget limitations and are therefore not included as expenditures of federal awards.
Pass-through entity identifying numbers are presented if applicable on the Schedule.
De Minimis Rate Used: N
Rate Explanation: The indirect cost rate is calculated and approved annually by the Chapter’s funders and is based on the ratio of total indirect expenses to total direct labor. Accordingly, the 10% de minimis rate is not utilized.
The indirect cost rate is calculated and approved annually by the Chapter’s funders and is based on the ratio of total indirect expenses to total direct labor. Accordingly, the 10% de minimis rate is not utilized.