Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: See notes.
De Minimis Rate Used: Y
Rate Explanation: See note C.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) summarizes the
expenditures of the federal award activity of Fresno Metro Ministry (the Organization) under
programs of the federal government for the year ended December 31, 2022. 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 Organization, it is not intended to and does not present
the financial position, changes in net position or cash flows for the Organization.
For purposes of the Schedule, federal awards include all grants and contracts entered into directly
or indirectly between the Organization, agencies, and departments of the federal and state
government. The awards are classified into major program categories in accordance with the
provisions of the Uniform Grant Guidance.
Title: NOTE 2 - BASIS OF ACCOUNTING
Accounting Policies: See notes.
De Minimis Rate Used: Y
Rate Explanation: See note C.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Title 2 U. S. Code of
Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and
Audit Requirements for Federal Awards (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 course of business to amounts reported
as expenditures in prior years.
Title: NOTE 3 - INDIRECT COST RATE
Accounting Policies: See notes.
De Minimis Rate Used: Y
Rate Explanation: See note C.
The Organization’s has elected to use the ten percent federal de minimis cost rate allowed under
Title 2 U. S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements,
Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance.
Title: NOTE 4 - RELATIONSHIP OF SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS TO
FINANCIAL STATEMENTS
Accounting Policies: See notes.
De Minimis Rate Used: Y
Rate Explanation: See note C.
Consistent with management’s policy, federal awards and other grants are recorded in respective
revenue categories. As result, the amount of total federal awards expended on the Schedule does
not agree to total grant revenue on the Statement of Activities and Changes in Net Assets as
presented in the Organization’s report on the audited financial statements.