Notes to SEFA
The accompanying schedule of expenditures of federal awards presents the activities in all the federal financial assistance programs of the SEIU Healthcare 1199NW Multi-Employer Training and Education Fund (the “Fund”). All financial assistance received directly from federal agencies as well as financial assistance passed through other governmental agencies or not-for-profit organizations is included on the schedule.
The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
Federal award expenditures are reported on the statements of changes in net assets available for benefits as program services and management and general. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards due to program expenditures exceeding grant or contract budget limitations or capitalization policies required by accounting principles generally accepted in the United States of America.
The Fund does not have a federally negotiated indirect cost rate, nor has it elected to use the 10% de minimis cost rate as covered in Section 200.414 in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.