Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash 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. Pass-through entity identifying
numbers are presented, where available.
De Minimis Rate Used: N
Rate Explanation: The Divisions elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal grant activity of
the Special Works and Select Conferences (the Divisions) of the Society of St. Vincent de Paul Archdiocesan
Council of Indianapolis, Inc. under programs of the federal government for the year ended September 30,
2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code
of Federal Regulations (CFR) 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 Divisions, it is not intended to and does not present the financial position, change in net
assets, functional expenses, nor cash flows of the Divisions.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash 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. Pass-through entity identifying
numbers are presented, where available.
De Minimis Rate Used: N
Rate Explanation: The Divisions elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Expenditures reported on the Schedule are reported on the modified cash 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. Pass-through entity identifying
numbers are presented, where available.
Title: Note 3 – Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash 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. Pass-through entity identifying
numbers are presented, where available.
De Minimis Rate Used: N
Rate Explanation: The Divisions elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
The Divisions elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Title: Note 4 – Reconciliation to Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the modified cash 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. Pass-through entity identifying
numbers are presented, where available.
De Minimis Rate Used: N
Rate Explanation: The Divisions elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform
Guidance.
Expenditures per this schedule $ 4,719,701
Less: food commodities distributed (4,715,618)
Plus: non-Federal contributions received 1 ,890,013
Total contributions without donor restrictions
per the financial statements $ 1,894,096