Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of PAX under programs of the federal government for the year ended September 30, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of PAX, it is not intended to and does not present the financial position, changes in net assets or cash flows of PAX.
Expenditures reported on the Schedule of Expenditures of Federal Awards are presented on the accrual basis of accounting. Such expenditures are recognized following the cost principals contained in OMB’s Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Under federal cost principles, certain types of expenditures are not allowable or are limited as to reimbursement.
There were no amounts provided to subrecipients from federal awards received during the year ended September 30, 2023.
PAX has elected not to use the de-minimus 10-percent indirect cost rate. PAX uses an indirect cost rate per the terms of a negotiated agreement with the U.S. Department of State.