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 or the TxGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards (Schedule) includes the federal and state grant activity of Big Brothers Big Sisters Lone Star (Agency) and is presented on the accrual basis of accounting. 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) and the Texas Grant Management Standards (TxGMS). Because the Schedule presents only a selected portion of the operations of the Agency, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Agency.
Title: Summary of 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 or the TxGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
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 or the TxGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Agency has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Agency has not elected to use the 10 percent de minimis indirect cost rate as allowed under the TxGMS and continues to use the allowable indirect costs for each award as determined by the awarding agency.
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 or the TxGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Of the federal and state expenditures presented in the Schedule, the Agency provided awards to subrecipients totaling $1,633,704 under the Amachi Texas Program, $301,937 under the Coronavirus State and Local Fiscal Recovery Funds and $159,063 under the Community-Based Child Abuse Prevention Grants.
Title: Insurance Coverage
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 or the TxGMS, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Agency maintains a commercial general liability insurance policy which is currently effective through October 1, 2025. The policy is issued by a commercial insurance carrier and provides coverage up to $1,000,000 per occurrence ($3,000,000 in the aggregate).