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. No federal financial assistance has been provided to a subrecipient
De Minimis Rate Used: N
Rate Explanation: El Sol has elected to use a rate other than the 10 percent de minimis indirect cost rate
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of El Sol under programs of the federal government for the year ended
December 31, 2024. The information in this Schedule is presented in on the accrual basis of
accounting and in accordance with the requirements of the 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 operations of El Sol, it is not intended to, and does not, present the
financial position, changes in net assets, or cash flows of the Organization.