Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on 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 allowed or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimus cost rate as covered by secton 200.414 of the Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards includes federal and state award activity of the Organization under programs of the federal and state governments for the year ended August 31, 2024. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulation Part 200, Uniform Administrative Requirements, and Audit Requirements for Federal Awards (Uniform Guidance) and the Texas Grant Management Standards. 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, change in net assets, or cash flows of the Organization.
Title: Significant Accounting Policies
Accounting Policies: Expenditures reported on 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 allowed or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimus cost rate as covered by secton 200.414 of the Uniform Guidance.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited to reimbursement.
Title: Relationship to Basic Financial Statements
Accounting Policies: Expenditures reported on 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 allowed or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimus cost rate as covered by secton 200.414 of the Uniform Guidance.
Federal and state grant revenues are recorded separately on the Statement of Activities under Revenues, Gains, and Other Support.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on 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 allowed or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimus cost rate as covered by secton 200.414 of the Uniform Guidance.
The Organization elected to use the 10% de minimus cost rate as covered by section 200.414 of the Uniform Guidance.
Title: Subrecipients
Accounting Policies: Expenditures reported on 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 allowed or are limited to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimus cost rate as covered by secton 200.414 of the Uniform Guidance.
The Organization did not provide federal or state awards to subrecipients.