Notes to SEFA
Title: GENERAL
Accounting Policies: Expenditures reported on the Schedule are reported on an other comprehensive 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 as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Any program expenses not directly chargeable to a program are allocated based on a prescribed cost allocation plan.
The accompanying Schedule of Expenditures of Federal Awards and Other Financial Assistance (the Schedule) presents the activity of all financial assistance programs of the Council. All financial assistance received directly or indirectly from Federal, State, and local agencies is included in the Schedule.
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on an other comprehensive 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 as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Any program expenses not directly chargeable to a program are allocated based on a prescribed cost allocation plan.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Council under programs of the federal government for the year ended September 30, 2024. The information in this schedule is presented 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). Because the Schedule presents only a selected portion of the operations of the Council, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Council. See Note V of the basic financial statements for the reconciliation of total federal expenditures and other financial assistance to the basic financial statements.
Title: IN-KIND SUPPORT
Accounting Policies: Expenditures reported on the Schedule are reported on an other comprehensive 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 as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Any program expenses not directly chargeable to a program are allocated based on a prescribed cost allocation plan.
A portion of the expenses for donated services and other in-kind support are excluded from the Council’s financial statements in accordance with FASB ASC 958-605-50-1. Donated services and other in-kind support are included in the accompanying Schedule in accordance with other applicable grant agreements, which is described in Note I to the Council’s basic financial statements.