Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following OMB Circular A-122 Cost Principles for Non-Profit Organizations where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years.
De Minimis Rate Used: Y
Rate Explanation: Methodist Children's Home Society and Methodist Children’s Home Society Supporting Organization D/B/A MCHS Family of Services has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Methodist Children's Home Society and Methodist Children’s Home Society Supporting Organization D/B/A MCHS Family of Services, 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 Methodist Children's Home Society and Methodist Children’s Home Society Supporting Organization D/B/A MCHS Family of Services, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Methodist Children's Home Society and Methodist Children’s Home Society Supporting Organization D/B/A MCHS Family of Services.
Title: Reconciliation to the Financial Statements
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following OMB Circular A-122 Cost Principles for Non-Profit Organizations where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years.
De Minimis Rate Used: Y
Rate Explanation: Methodist Children's Home Society and Methodist Children’s Home Society Supporting Organization D/B/A MCHS Family of Services has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The schedule of expenditures of federal awards reconciles to the combined statement of activities as follows:
Schedule of expenditures of federal awards $ 3,995,535
Non-federal grants, contributions and programs 1,067,600
Total federal and state grants $ 5,063,135
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following OMB Circular A-122 Cost Principles for Non-Profit Organizations where certain types of expenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in
prior years.
De Minimis Rate Used: Y
Rate Explanation: Methodist Children's Home Society and Methodist Children’s Home Society Supporting Organization D/B/A MCHS Family of Services has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
No amounts were provided to subrecipients.