Notes to SEFA
Title: Relationship to the Financial Statements
Accounting Policies: The Schedule of Expenditures of Federal Awards (the “Schedule”) includes the Federal award activity of the Organization under programs of the Federal Government for the year ended June 30, 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 only a selected portion of the operation 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. 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 wherein certain types of expenditures are
not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Federal expenditures, revenues, and capital contributions are reported in the Organization’s basic
financial statements
as follows:
Total grant revenues per Statement of Activities $ 5,594,268 Less: state and local
grants 1,064,281
Amount presented on SEFA $ 4,529,987