Notes to SEFA
Title: 1. Basis of Presentation
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (SEFA) 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: Cardinal has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (SEFA) for the eighteen-month period ended December 31, 2024 includes the federal grant activity of Cardinal Services, Inc. of Indiana and Affiliates (Cardinal) and is presented on the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of Title 2 US Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (the Uniform Guidance). The basic consolidated financial statement classifications may include other financial activity for reporting purposes. Therefore, some of the amounts presented in the SEFA may differ from amounts presented in, or used in the preparation of, the basic consolidated financial statements.
Title: 3. Subrecipient Pass-Through and Other
Accounting Policies: Expenditures reported on the schedule of expenditures of federal awards (SEFA) 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: Cardinal has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
During the eighteen-month period ended December 31, 2024, Cardinal did not provide any federal awards to subrecipients. In addition, there were no federal awards expended in the form of non-cash assistance and there were no loan guarantees outstanding or extended during the eighteen-month period ended December 31, 2024.