Notes to SEFA
Accounting Policies: Basis of Presentation – The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the activity of all federal awards programs administered by The Prevention Council of Erie County, Inc. (the “Council”), under programs of the federal government for the year ended December 31, 2024 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”). Federal awards received directly from federal agencies, as well as federal awards passed through from other governmental agencies or not-for-profit organizations, are included on the Schedule.
Basis of Accounting – The accompanying Schedule is presented using the accrual basis of accounting. The amounts reported as federal expenditures were obtained from appropriate financial reports for the applicable program and periods. The amounts reported in these financial reports are prepared from records maintained for each program. These records are periodically reconciled to the general ledger, which is the source of supporting data for the Council’s financial statements.
Relationship to Basic Financial Statements – Federal award expenditures are reported on the statement of functional expenses as program services and any related allowable general and administrative expenses under the category of management and general expenses. In certain programs, the expenditures reported in the financial statements may differ from the expenditures reported in the Schedule due to program expenditures exceeding grant or contract budget limitations, matching or contributions of nonfinancial assets, or capitalization policies required under accounting principles generally accepted in the United States of America.
De Minimis Rate Used: N
Rate Explanation: The Council has elected not to use the 10 percent de minimus indirect cost rate as allowed under Uniform Guidance and instead uses the overhead allocation rate provided by the specific contracts for the programs.