Notes to SEFA
Title: Note 1 – Basis of Presentation
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 wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbersare presented, where available.
De Minimis Rate Used: N
Rate Explanation: Indiana Afterschool Network, Inc. elected not to use the 10 percent de minimis indirect cost rate allowed
under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant
activity of Indiana Afterschool Network, Inc. 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 Indiana Afterschool Network, Inc., it is not intended to and does not present the
financial position, change in net assets, functional expenses, nor cash flows of Indiana Afterschool Network,
Inc.
Title: Note 2 – Summary of Significant Accounting Policies
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 wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbersare presented, where available.
De Minimis Rate Used: N
Rate Explanation: Indiana Afterschool Network, Inc. elected not to use the 10 percent de minimis indirect cost rate allowed
under the Uniform Guidance.
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. Pass-through entity identifying numbers
are presented, where available.
Title: Note 3 – Indirect Cost Rate
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 wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbersare presented, where available.
De Minimis Rate Used: N
Rate Explanation: Indiana Afterschool Network, Inc. elected not to use the 10 percent de minimis indirect cost rate allowed
under the Uniform Guidance.
Indiana Afterschool Network, Inc. elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.