Notes to SEFA
Title: Note 4. Federally Funded Insurance
Accounting Policies: Note 1. Basis of Presentation
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal
award activity of the Organization under programs of the federal government 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).
Because the Schedule presents only a selected portion or the operations of the Organization, it is not
intended to and does not present the financial position, changes in net position or cash flows of the
Organization.
Note 2. Summary of Significant 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: N
Rate Explanation: The Organization did not elect to use the allowed 10% indirect cost rate.
The Organization has no federally funded insurance.