Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Cooperativa de Ahorro y Credito Jesus Obrero (the Credit Union) under programs of the federal government for the year ended December 31, 2024. 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 selected portion of the operations of the Credit Union, it is not intended to and does not present the financial position, result of operations, changes in members’equity, comprehensive income or cash flows of Cooperativa de Ahorro y Credito Jesús Obrero.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited to reimbursement.
Cooperativa de Ahorro y Credito Jesus Obrero has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.