Notes to SEFA
Title: NOTE 1 BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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: CDF has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Children’s Defense Fund and Children’s Defense Fund Action Council (collectively, CDF) 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 a selected portion of the operations of CDF, it is not intended to and does not present the financial position, changes in net position, or cash flows of CDF.
Title: NOTE 2 SCOPE OF SINGLE AUDIT PURSUANT TO UNIFORM GUIDANCE
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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: CDF has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
All federal financial assistance programs operated by CDF are included in the scope of the Uniform Guidance audit. This Single Audit was conducted in accordance with the provisions of the Office of Management and Budget's Compliance Supplement.
Title: NOTE 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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: CDF has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the modified 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.
CDF has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE 4 FISCAL PERIOD AUDIT
Accounting Policies: Expenditures reported on the Schedule are reported on the modified 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: CDF has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Single Audit testing procedures were performed for program transactions occurring during the year ended December 31, 2024, for the following major programs:
See the Notes to the SEFA for chart/table