Notes to SEFA
Title: 1. General Information
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 Uniform Guidance, wherein certain types of expenditures
are not allowable or a are limited as to reimbursement. If present, negative amounts reflected in the Schedule
represent adjustments or credit resulting from the normal course of business to amounts reported as
expenditures in prior years. The amounts reported in the schedule as expenditures may differ from certain
financial reports submitted to federal and state 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: Statewide Parent Advocacy Network Inc. has elected not to use the 10% de minimus indirect cost rate as
allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards (the Schedule) include the federal and
state awards activity of Statewide Parent Advocacy Network Inc. under programs of the federal and state
government for the year ended June 30, 2024. All financial awards received directly from federal and state
agencies as well as financial awards pass - through other governmental agencies or not-for-profit organizations
are included on the schedule. The information in the Schedule is presented in accordance with 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 New Jersey OMB Circular 15-08. Because
the Schedule presents only a selected portion of the operations of Statewide Parent Advocacy Network Inc., it
is not intended to, and does not, present the financial position, changes in net assets,or cash flows of Statewide
Parent Advocacy Network Inc..
Title: 2. Basis of Accounting
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 Uniform Guidance, wherein certain types of expenditures
are not allowable or a are limited as to reimbursement. If present, negative amounts reflected in the Schedule
represent adjustments or credit resulting from the normal course of business to amounts reported as
expenditures in prior years. The amounts reported in the schedule as expenditures may differ from certain
financial reports submitted to federal and state 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: Statewide Parent Advocacy Network Inc. has elected not to use the 10% de minimus indirect cost rate as
allowed under Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures
are not allowable or a are limited as to reimbursement. If present, negative amounts reflected in the Schedule
represent adjustments or credit resulting from the normal course of business to amounts reported as
expenditures in prior years. The amounts reported in the schedule as expenditures may differ from certain
financial reports submitted to federal and state funding agencies due to those reports being submitted on either
a cash or modified accrual basis of accounting.
Title: 3. Relationship to Basic Financial Statements
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 Uniform Guidance, wherein certain types of expenditures
are not allowable or a are limited as to reimbursement. If present, negative amounts reflected in the Schedule
represent adjustments or credit resulting from the normal course of business to amounts reported as
expenditures in prior years. The amounts reported in the schedule as expenditures may differ from certain
financial reports submitted to federal and state 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: Statewide Parent Advocacy Network Inc. has elected not to use the 10% de minimus indirect cost rate as
allowed under Uniform Guidance.
Federal and State Award expenditures are reported on the Statement of Functional Expenses as program
services. In certain programs, the expenditures reported in the financial statements may differ from the
expenditures reported in the Schedule due to program expenditures exceeding grant or contract budget
limitations, matching or in-kind contributions or capitalization policies required under accounting principles
generally accepted in the United States of America.
Title: 4. Indirect Cost Rate
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 Uniform Guidance, wherein certain types of expenditures
are not allowable or a are limited as to reimbursement. If present, negative amounts reflected in the Schedule
represent adjustments or credit resulting from the normal course of business to amounts reported as
expenditures in prior years. The amounts reported in the schedule as expenditures may differ from certain
financial reports submitted to federal and state 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: Statewide Parent Advocacy Network Inc. has elected not to use the 10% de minimus indirect cost rate as
allowed under Uniform Guidance.
Statewide Parent Advocacy Network Inc. has elected not to use the 10% de minimus indirect cost rate as
allowed under Uniform Guidance.