Notes to SEFA
Title: Note 1
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following, as applicable, either the cost principles contained in Uniform Guidance wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Pass through entity identifying
numbers are presented where available.
The accounting and reporting policies of the Community Resource Center applied in the presentation of the
schedule of expenditures of federal awards (the “Schedule”) are set forth below:
Single Audit Reporting Entity
The transactions of 660 Encinitas LLC are not reflected in the Schedule.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. BEST has negotiated facility & administrative (“F&A”) and fringe benefits rates with the government. The provisional rates billed for the year were 34.5% and 33.1%, respectively as set forth in the grant documents. The F&A and fringe cost amounts, as included in the Schedule, are in accordance with the rates in the grant budgets. Costs are allocated to grants based on the grant direct labor, materials & supplies, and travel.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Building Engineering & Science Talent 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 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 Building Engineering & Science Talent it is not intended to and does not present the financial position, changes in net assets, or cash flows of Building Engineering & Science Talent.
Title: Note 2
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following, as applicable, either the cost principles contained in Uniform Guidance wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Pass through entity identifying
numbers are presented where available.
The accounting and reporting policies of the Community Resource Center applied in the presentation of the
schedule of expenditures of federal awards (the “Schedule”) are set forth below:
Single Audit Reporting Entity
The transactions of 660 Encinitas LLC are not reflected in the Schedule.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. BEST has negotiated facility & administrative (“F&A”) and fringe benefits rates with the government. The provisional rates billed for the year were 34.5% and 33.1%, respectively as set forth in the grant documents. The F&A and fringe cost amounts, as included in the Schedule, are in accordance with the rates in the grant budgets. Costs are allocated to grants based on the grant direct labor, materials & supplies, and travel.
Expenditures reported on the Schedule are reported on the accrual basis of accounting except for amounts passed through to subrecipients which are reported on the Schedule when the disbursement is made to the subrecipient. Such expenditures are recognized following the cost principles contained in Title 48 U.S. Code of Federal Regulations Part 31, Contract Cost Principles and Procedures, wherein certain types of expenditures are now allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.