Notes to SEFA
The information in the 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). Because the Schedule presents only a selected portion of the operations of Urban Neighborhood Initiatives, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Urban Neighborhood Initiatives, Inc.
Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Urban Neighborhood Initiatives, Inc. has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.