Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of
Boys and Girls Club of the Kenai Peninsula 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 Boys and Girls
Club of the Kenai Peninsula, it is not intended to and does not represent the financial position, change in net assets
or cash flows of Boys and Girls Club of the Kenai Peninsula. Expenditures reported on the Schedule are reported on the full 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.
De Minimis Rate Used: N
Rate Explanation: Boys and Girls Club of the Kenai Peninsula has elected to not use the 10 percent de minimis indirect cost rate
allowed under the Uniform Guidance.