Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the SEFA 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basis financial statements.
De Minimis Rate Used: N
Rate Explanation: Fathers Support Center, St. Louis used the indirect cost rate per the indirect cost agreement. The rates that were used for December 31, 2024 was 32.20%.
The SEFA includes the federal grant activity of Fathers Support Center, St. Louis under programs of the federal government for the year ended December 31, 2024. The information in the SEFA 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 Fathers Support Center, St. Louis it is not intended to and does not present the financial position, changes in net assets or cash flows of Fathers Support Center, St. Louis.