Notes to SEFA
Title: Note 2 – Assistance Listing
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity
of Newtown Community Development Corporation (the Organization), and is presented on the
accrual basis of accounting. 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).
Therefore, some amounts presented in this schedule may differ from amounts presented in, or
used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Newtown elected not to use the 10 percent de minimis indirect cost rate.
The program titles and Assistance Listing numbers were obtained from the federal or passthrough
grantor or the 2024 Federal Assistance Listing. When no Assistance Listing number had
been assigned to a program, the two-digit federal agency identifier and the federal contract
number were used.
Title: Note 3 – Program Income
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity
of Newtown Community Development Corporation (the Organization), and is presented on the
accrual basis of accounting. 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).
Therefore, some amounts presented in this schedule may differ from amounts presented in, or
used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Newtown elected not to use the 10 percent de minimis indirect cost rate.
Newtown reported expenditures of $5,501,718 on the Schedule of Expenditure of Federal Awards
that related to program income used during the period.
Title: Note 5 – Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity
of Newtown Community Development Corporation (the Organization), and is presented on the
accrual basis of accounting. 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).
Therefore, some amounts presented in this schedule may differ from amounts presented in, or
used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: Newtown elected not to use the 10 percent de minimis indirect cost rate.
No funds were passed through to subrecipients