Notes to SEFA
Title: GENERAL INFORMATION
Accounting Policies: The Schedule is presented using 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. The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to federal, state, or city funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Pradera Corporation has not made an election pursuant to Uniform Guidance to receive a 10% de minimis indirect cost rate. Furthermore, Pradera Corporation does not receive any federal indirect costs.
The accompanying schedule of expenditures of federal, state, and city awards (the “Schedule”) presents the activities in all of the federal, state, and city financial assistance programs of Pradera Corporation 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”) and the City of Philadelphia Subrecipient Audit Guide. All financial assistance received directly from federal agencies as well as financial assistance passed through other governmental agencies or non-profit organizations is included on the Schedule.
Title: RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: The Schedule is presented using 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. The amounts reported in this Schedule as expenditures may differ from certain financial reports submitted to federal, state, or city funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Pradera Corporation has not made an election pursuant to Uniform Guidance to receive a 10% de minimis indirect cost rate. Furthermore, Pradera Corporation does not receive any federal indirect costs.
Federal, state, and city award expenditures are reported as program services. In certain programs, the expenditures reported in the breakdown may differ from the expenditures reported in the schedule of expenditures of federal, state, and city awards due to program expenditures exceeding grant or contract budget limitations which are not included as federal, state, and city awards and differences between generally accepted accounting principles and applicable government regulations regarding eligible program expenditures.