Notes to SEFA
Title: 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.
De Minimis Rate Used: Y
Rate Explanation: All expenditures charged to federal programs are considered direct costs, therefore, indirect cost rates are not applicable.
The accompanying schedule of expenditures of federal awards (the "schedule") includes the federal award activity of the Organization under programs of the federal government for the year ended December 31, 2024. The information in this schedule is presented in accordance with the requirements of Title 2 US Code of Federal regulations Part 200, Uniform Adminstrative Requirements, Cost Prinicipals, and the Audit requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented or used in the preparation of the financial statements.
Title: Summary
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.
De Minimis Rate Used: Y
Rate Explanation: All expenditures charged to federal programs are considered direct costs, therefore, indirect cost rates are not applicable.
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 to reimbursement.