Notes to SEFA
The accompanying schedule of expenditures of Federal awards (the Schedule) includes the Federal grant activity of the Cal Ripken, Sr. Foundation, Inc. (the Foundation) and is presented on the accrual basis of accounting. 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 select portion of the operations of the Foundation, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Foundation. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. For purposes of the schedule of expenditures of Federal awards, Federal awards include all grants, contracts, and similar agreements entered into directly between the Foundation and agencies and departments of the Federal government and all subawards made to the Foundation by non-Federal organizations pursuant to Federal grants, contracts and similar agreements. The awards are classified into program categories in accordance with the provisions of the Uniform Guidance. The dollar threshold used to distinguish between Type A and Type B programs, as defined in the Uniform Guidance, was $750,000.
Expenditures reported on the Schedule 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. Pass-through entity identifying numbers are presented where available.
The Foundation has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.