Notes to SEFA
The accompanying schedule of expenditurs of federal awards includes the grant activity of George Gervin Youth Center, Inc., and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts pesented in this schedule may differ from amounts presented in or used in the preparation of the basis financial statements.
Related entities activity has been consolidated in the George Gervin Youth Center, Inc.'s Consolidated Financial Statement presentation; however, federal expenditures for these organizations are not consolidated into the George Gervin Youth Center, Inc.'s Schedule of Expenditures of Federal Awards as of August 31, 2024. The related entities have their own compliance requirements to adhere to as dictated by grantors.
George Gervin Youth Center, Inc. had no Federal Financial Assistance loan balances outstanding as of August 31, 2024.
Of the federal expenditues presented in the schedule, George Gervin Youth Center, Inc. did not provide federal awards to subrecipients.
George Gervin Youth Center, Inc. did not elect to use the 10% de minimis indirect cost rate. Instead, appropriate indirect cost rates were used for each program, based on facts and circumstances.