Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the Council under programs of the federal government for the year ended December 31, 2024. The Council’s reporting entity is defined in Note 1 to the Council’s financial statements. The information reported 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 the Council, it is not intended to and does not present the financial position, changes in net position or cash flows of the Council.
The Council prepares its Schedule of Expenditures of Federal Awards on the accrual basis of accounting which is described in Note 1 to the Council’s financial statements. 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.
The Council has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance
The Council did not have any federal insurance in effect during the year ended December 31, 2024.