Notes to SEFA
Accounting Policies: 1. BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award
activity of The Lincoln Center for Family and Youth ("TLC") under programs of the federal government for the
year ended June 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 TLC, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of TLC.
2. BASIS OF ACCOUNTING
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.
De Minimis Rate Used: N
Rate Explanation: The Lincoln Center for Family and Youth has not elected to use the 10% de minimis indirect cost rate for federal contracts allowed under the Uniform Guidance.