Notes to SEFA
Title: Pass-through Entity Identifying Numbers
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and Florida state grant activity of Best Buddies International, Inc. (BBI) under programs of the federal and state government for the year ended December 31, 2024. The information in this schedule is presented in accordance with the requirement of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations and Chapter 10.650 Rules of the Auditor General. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 200.516(a), Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: During the year ended December 31, 2024, BBI elected to use the 10% de minimis indirect cost rate.
Pass-through entity identifying numbers are presented where available.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance includes the federal and Florida state grant activity of Best Buddies International, Inc. (BBI) under programs of the federal and state government for the year ended December 31, 2024. The information in this schedule is presented in accordance with the requirement of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations and Chapter 10.650 Rules of the Auditor General. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Expenditures reported on this schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR 200.516(a), Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: During the year ended December 31, 2024, BBI elected to use the 10% de minimis indirect cost rate.
No federal or state expenditures presented in this schedule were provided to subrecipients.