Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on Schedule are reported on the accrual basis of accounting. Under the accrual basis of accounting, expenditures are recognized in the period incurred. 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. 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: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of New Dimensions Foster Family Agency, Inc. (the “Organization”) for the year ended December 31, 2024. The Schedule has been prepared 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 the Organization, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on Schedule are reported on the accrual basis of accounting. Under the accrual basis of accounting, expenditures are recognized in the period incurred. 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. 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: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
Expenditures reported on the Schedule are presented on the accrual basis of accounting. Federal awards are recognized as expenditures when the related allowable costs are incurred under the terms of the grant. Expenditures are recognized in accordance with the cost principles contained in the Uniform Guidance, wherein certain costs are not allowable or are limited as to reimbursement. When applicable, pass-through entity identifying numbers are presented.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on Schedule are reported on the accrual basis of accounting. Under the accrual basis of accounting, expenditures are recognized in the period incurred. 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. 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: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance