Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal award programs of Holsten Human Capital Development NFP, 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 (the Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the financial statements and is not intended to and does not present the consolidated financial position, statement of activities or cash flows of Holsten Human Capital Development NFP.
The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting, which is described in Note 2 to the consolidated financial statements of Holsten Human Capital Development NFP.
Holsten Human Capital Development NFP has not elected to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414.