Notes to SEFA
Title: 1. GENERAL
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.
De Minimis Rate Used: Y
Rate Explanation: CEC elected to use the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) presents the expenditures of the federally assisted programs of Charles Evans Center, Inc. (CEC) for the year ended December 31, 2024 The information in the 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 CEC, it is not intended to and does not present the financial position, change in net assets,
or cash flows of CEC.
Title: 2. 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.
De Minimis Rate Used: Y
Rate Explanation: CEC elected to use the 10% 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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: 3. INDIRECT COST RATE
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.
De Minimis Rate Used: Y
Rate Explanation: CEC elected to use the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
CEC elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.