Notes to SEFA
The accompanying Schedule of Expenditures of Federal/State Awards (Schedule) presents the activity of all the federal awards of the Boys & Girls Club of Pharr. The information in this Schedule is presented in accordance with the 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). The Boys & Girls Club of Pharr’s reporting entity is defined in Note 1 to the basic financial statements. All federal awards received directly from Federal agencies and state and federal awards passed through state agencies are included on the Schedule. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position or changes in net position of the Boys & Girls Club of Pharr.
Expenditures reported on the Schedule are reported 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 to reimbursement.
Amounts reported on the Schedule may not agree with the amounts reported in the related Federal/State financial status reports filed with grantor agencies, because of the effect of accruals made in the Schedule.
The Organization did not receive any federal assistance in the form of loans during the year.
The Organization has not elected to use the 10% de minimis indirect cost rate as of December 31, 2024.