Notes to SEFA
The accompanying consolidated schedule of expenditures of federal awards includes the federal grant activity of Warren/Conner Development Coalition and Subsidiaries, and is presented on the same basis of accounting as the basic consolidated financial statements. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the Schedule presents only a selected portion of the operations of Warren/Conner Development Coalition and Subsidiaries, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of Warren/Conner Development Coalition and Subsidiaries.
Expenditures reported on the Schedule are reported on the same basis of accounting as the basic financial statements. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles for Nonprofit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, whereas certain types of expenditures are not allowable or are limited as to reimbursement. Warren/Conner Development Coalition and Subsidiaries did not elect to use the 10% De Minimis indirect cost rate to recover indirect costs as allowed under the Uniform Guidance.
Federal revenues recorded in grants revenue on the Consolidated Statement of Activities are as follows: Grants- Statement of Activities $ 3,814,660 Less: Non-federal grants (3,035,946) Total expenditures of federal awards $ 778,714