Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule) presents the activity of all federal financial assistance programs of Utah Afterschool Network, Inc. (the “Organization”). The reporting entity is defined in Note 1 to the basic financial statements. All federal awards received directly from federal agencies as well as federal awards passed-through other government agencies are included on the Schedule.
The accompanying Schedule is presented using the accrual basis of accounting for expenditures. The cost principles contained in Subpart E -Cost Principles of the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Organization’s summary of significant accounting policies is presented in Note 2 of the Organization’s basic financial statements. 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, changes in net assets or cash flows of the Organization.
The Organization has elected to use the 10 percent de minimum indirect cost rate allowed under the Uniform Guidance.
The Organization did not receive federal non-cash assistance during the period presented.