Notes to SEFA
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE "SCHEDULE") INCLUDES THE FEDERAL GRANT ACTIVITY OF PALADIN, INC. UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED JUNE 30, 2025. THE INFORMATION IN THIS SCHEDULE IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 US.S CODE OF FEDERAL REGULATIONS PART 200 UNIFORM ADMINSITRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE). BECAUSE THE SCHEDULE PRESENTS ONLY A SELECT PORTION OF THE OPERATIONS OF PALADIN, INC., IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS, OR CASH FLOWS OF PALADIN, INC.
EXPENDITURES REPORTED ON TH ESCHEDULE ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES IN THE UNIFOR GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWED OR ARE LIMITED AS TO REIMBURSMENT. WHEN FEDERAL GRANTS ARE RECEIVED ON A REIMBURSEMENT BASIS, THE FEDERAL AWARDS ARE CONSIDERED EXPENDED WHEN THE REIMBURSEMENT IS RECEIVED.
PALADIN, INC. HAS ELECTED TO USE THE 10PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.