Notes to SEFA
The schedule of expenditures of federal awards and state financial assistance summarizes the expenditures of the Organization under programs of the federal and state governments for the year ended December 31, 2024. The information is this schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations 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 the Organization, it is not intended to and does not present the financial position, change in net position, or cash flows of the Organization. Expenses reported on the schedule are reported on the accrual basis of accounting. Such expenses are recognized following cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
The Organization has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance
At December 31, 2024, there were no loan program outstanding.