Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the Organization under programs of the federal government for the year ended December 31, 2024. The information in the Schedule is presented in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Organization. Therefore, some amounts presented in the Schedule may differ from amounts presented in the consolidated financial statements. All of the Organization’s federal awards were in the form of cash assistance for the year ended December 31, 2024.
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.
The Organization did not elect to use the 10% de minimis indirect cost rate as allowed by Uniform Guidance.
The Economic Adjustment Assistance program provides a wide range of technical, planning, public works and infrastructure, and other financial assistance in regions experiencing adverse economic changes that may occur suddenly or over time. These adverse economic impacts may result from a steep decline in manufacturing employment following a plant closure, changing trade patterns, catastrophic natural disasters, a military base closure, or environmental changes and regulations.