Notes to SEFA
The Schedule of Expenditures of Federal Awards (SEFA) includes the federal activity of New Beginning International Ministry (the Organization). The information in the SEFA is presented in accordance with requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance") and the State of Tennessee. Because the SEFA 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.
The SEFA is prepared 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 grants awarded to the Organization were specific fee for service and has not elected to use the 10% de minimis indirect cost rate. The Organization did not provide any funds to subrecipients.