Notes to SEFA
The Organization passes a portion of its federal awards received from the U.S Department of the Treasury to other not-for-profit agencies. As described in Note 1, the Organization reports expenditures of federal awards to the subrecipients on the accrual basis. The Organization has established a policy of accruing any expenditures related to requests for reimbursements received from the subrecipients within 45 days of the end of its fiscal year. As a pass-through entity, the Organization has certain compliance responsibilities, such as monitoring its subrecipients to help assure they use the subaward as authorized and in accordance with laws, regulations, and the provisions of contracts or grant agreements, and that the subrecipients achieve the awards’ performance goals.