Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. When applicable, 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. No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis cost rate.
The accompanying consolidated schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Nexus Family Healing under programs of the federal government for the year ended December 31, 2024. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Nexus Family Healing, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Nexus Family Healing.
Title: FOOD DONATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. When applicable, 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. No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis cost rate.
Nonmonetary assistance is reported in this Schedule at the fair market value of the commodities received and disbursed. At December 31, 2024, the Organization had no food commodities in inventory. The Organization reported total noncash food donations on the Schedule of $33,952 as part of the Child Nutrition Cluster.