Notes to SEFA
Title: NOTE 1: BASIS OF PRESENTATION OF SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles as found in the Uniform Guidance for federal awards.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate for the year ended September 30, 2024.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the federal fund expenditures of all federal award programs of the Organization for the year ended September 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in or used in the preparation of the Organization’s financial statements.
Title: Note 3: RELATIONSHIP TO FINANCIAL REPORTS SUBMITTED TO GRANTOR AGENCIES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles as found in the Uniform Guidance for federal awards.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate for the year ended September 30, 2024.
Amounts reflected in the financial reports filed with grantor agencies for the programs and the supplementary schedules may not agree because of accruals included in the next report filed with the agencies, matching requirements not included in the Schedule and different program year ends.
Title: Note 5: LOANS AND LOAN GUARANTEES
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles as found in the Uniform Guidance for federal awards.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate for the year ended September 30, 2024.
The Organization did not have any loans or loan guarantee programs required to be reported on the Schedule for the year ended September 30, 2024.
Title: Note 6: NONCASH ASSISTANCE
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles as found in the Uniform Guidance for federal awards.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate for the year ended September 30, 2024.
The Organization received noncash federal assistance of client housing in the amount of $671,666 for the year ended September 30, 2024.
Title: Note 7: 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 as found in the Uniform Guidance for federal awards.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10% de minimis indirect cost rate for the year ended September 30, 2024.
The following reconciles the accompanying schedule of expenditures of federal awards to government grants as reported in the financial statements of the Organization: Total expenidtures of federal award per accompany schedule $5.,478,820 less:non-cash (671,666) Other federal vendor contracts 1,186,470 = Total government grants per Statement of Activities $5,993,624