Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the SEFSA are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in 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-percent de minimis cost rate as allowed under the Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant
activity of Brick Capital Community Development Corporation 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 only a selected portion of the operations of Family Services, Inc., it is not intended to and does not
present the financial position, changes in net assets, or cash flows of Family Services, Inc.