Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance includes the federal and state grant activity of The Enterprise Center, Inc. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Expenditures reported on the Schedule of Expenditures of Federal Awards and State Financial Assistance 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 limited to reimbursement. The Enterprise Center, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.