Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported in prior years.
De Minimis Rate Used: Y
Rate Explanation: El Centro De Ayuda. has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of El Centro De Ayuda 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 El Centro De Ayuda, it is not intended to and does not present the financial position, changes in net assets, or cash flows of El Centro De Ayuda.
Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported in 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported in prior years.
De Minimis Rate Used: Y
Rate Explanation: El Centro De Ayuda. has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported in 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported in prior years.
Title: NOTE 3 - INDIRECT COST RATE
Accounting Policies: Expenditures reported in 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported in prior years.
De Minimis Rate Used: Y
Rate Explanation: El Centro De Ayuda. has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
El Centro De Ayuda. has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 4 - SUBCONTRACTORS
Accounting Policies: Expenditures reported in 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported in prior years.
De Minimis Rate Used: Y
Rate Explanation: El Centro De Ayuda. has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
El Centro De Ayuda paid the following subcontractors for services provided for the Family Source Center program during the year ended June 30, 2024: