Notes to SEFA
Title: Note 1: 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 allowable or are limited as to reimbursement. The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Organization did not receive any federal noncash assistance for the year ended December 31, 2024. The Organization did not have any loans or loan guarantee programs required to be reported on the Schedule for the year ended December 31, 2024.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) presents the federal award program expenditures of The Beacon of Downtown Houston (the Organization) for the year ended December 31, 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 Organization, it is not intended to and does not present the financial position, change in net assets, or cash flows of the Organization.
Title: Note 3: Reconciliation to 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 allowable or are limited as to reimbursement. The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The Organization did not receive any federal noncash assistance for the year ended December 31, 2024. The Organization did not have any loans or loan guarantee programs required to be reported on the Schedule for the year ended December 31, 2024.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the de minimis indirect cost rate.
The following reconciles the accompanying schedule of expenditures of Federal awards to grants as reported in the financial statements of the Organization: