Notes to SEFA
Title: 1. General
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) presents the federal financial assistance programs of Cooperativa de Servicios Integrados a la Niñez (COSIANI) (the Cooperative). The reporting entity is defined in Note 1 to the Cooperative’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the ten percent (10%) de minimis indirect cost rate
The accompanying schedule of expenditures of federal awards (Schedule) presents the federal financial assistance programs of Cooperativa de Servicios Integrados a la Niñez (COSIANI) (the Cooperative). The reporting entity is defined in Note 1 to the Cooperative’s financial statements.
Title: 2. Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) presents the federal financial assistance programs of Cooperativa de Servicios Integrados a la Niñez (COSIANI) (the Cooperative). The reporting entity is defined in Note 1 to the Cooperative’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the ten percent (10%) de minimis indirect cost rate
The accompanying Schedule includes the federal grant activity of the Cooperative under programs of the federal government for the year ended December 31, 2022. The information in this schedule is presented in accordance with the requirements of Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Credit Union, it is not intended to, and does not, present the balance sheet, statements of members’ equity, or statements of cash flows of the Cooperative.
Title: 3. Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) presents the federal financial assistance programs of Cooperativa de Servicios Integrados a la Niñez (COSIANI) (the Cooperative). The reporting entity is defined in Note 1 to the Cooperative’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the ten percent (10%) de minimis indirect cost rate
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: 4. Subrecipients and Outstanding Federal Loans
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) presents the federal financial assistance programs of Cooperativa de Servicios Integrados a la Niñez (COSIANI) (the Cooperative). The reporting entity is defined in Note 1 to the Cooperative’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the ten percent (10%) de minimis indirect cost rate
Of the expenditures presented in the Schedule, the Cooperative provided no awards to subrecipients. There were no outstanding federal loans at December 31, 2022.
Title: 5. Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (Schedule) presents the federal financial assistance programs of Cooperativa de Servicios Integrados a la Niñez (COSIANI) (the Cooperative). The reporting entity is defined in Note 1 to the Cooperative’s financial statements.
De Minimis Rate Used: N
Rate Explanation: The Cooperative has elected not to use the ten percent (10%) de minimis indirect cost rate
The Cooperative has elected not to use the ten percent (10%) de minimis indirect cost rate.