Notes to SEFA
Accounting Policies: Note 1 - Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity
of the Organization 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 (CFR) 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
the Organization, it is not intended to and does not present the financial position, changes in net assets, 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. When applicable, 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. No federal assistance has been
provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: Note 3 - Indirect Cost Rate
The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.