Notes to SEFA
Title: NOTE 3 RISKS AND UNCERTAINTIES
Accounting Policies: NOTE 1 BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Boys and Girls Clubs of Snohomish County under programs of the federal government for the year ended December 31, 2024. The information in the 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. Pass-through entity identifying numbers are presented where available.
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 for all awards with the exception of Assistance Listing 21.027, which follows criteria determined by the Department of Treasury for allowability of costs. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Federal awards are subject to audit and monitoring, which could result in adjustments to federal awards. The adjustments are recorded at the time that such amounts can first be reasonably determined, normally on notification by the federal awarding agency or pass-through entities.
During the year ended December 31, 2024, no adjustments were recorded.
Title: NOTE 5 WIOA CLUSTER
Accounting Policies: NOTE 1 BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Boys and Girls Clubs of Snohomish County under programs of the federal government for the year ended December 31, 2024. The information in the 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. Pass-through entity identifying numbers are presented where available.
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 for all awards with the exception of Assistance Listing 21.027, which follows criteria determined by the Department of Treasury for allowability of costs. Under these principles, certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE 4 The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Workforce Investment Opportunity Act (WIOA) funds under three separate Assistance Listing Numbers (17.258, 17.259, and 17.278) within the Workforce Investment Act Cluster. Each Assistance Listing Number targets a specific population, i.e., adult, youth, and dislocated workers. Amounts followed by an “*” are available to all WIOA programs. It is not possible to identify amounts used by each Assistance Listing Number; therefore, the total amount is shown as Assistance Listing Number 17.259.