Notes to SEFA
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal grant activity of Center for Neighborhood Technology and Alternative Transportation Services for Chicagoland (the Organization), under programs of the federal government for the year December 31, 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. Because this schedule presents only a selected portion of the operations of Center for Neighborhood Technology and Alternative Transportation Services for Chicagoland it is not intended to and does not present the financial position, changes in net assets or cash flows of Center for Neighborhood Technology and Alternative Transportation Services for Chicagoland.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the de minimis rate of 10% for the year ended December 31, 2024.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR Part 230 - Cost Principles for Non-Profit Organizations (OMB Circular A-122), wherein certain types or expenditures are not allowed or are limited as to reimbursement. Negative amounts shown on the SEFA represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Organization has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NON-CASH ASSISTANCE, LOANS OUTSTANDING, AND INSURANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the Federal grant activity of Center for Neighborhood Technology and Alternative Transportation Services for Chicagoland (the Organization), under programs of the federal government for the year December 31, 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. Because this schedule presents only a selected portion of the operations of Center for Neighborhood Technology and Alternative Transportation Services for Chicagoland it is not intended to and does not present the financial position, changes in net assets or cash flows of Center for Neighborhood Technology and Alternative Transportation Services for Chicagoland.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the de minimis rate of 10% for the year ended December 31, 2024.
The Organization did not receive any federal non-cash assistance, federal loans, or federal insurance for the year ended December 31, 2024.