Notes to SEFA
The accompanying schedule of federal awards includes the federal grant activity of The Wellbeing Initiative, Inc. and is presented on the accrual basis of accounting. Grant awards are considered expended when the expense transactions associated with the grant occur. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the financial statements.
The Organization provided federal awards to subrecipients as presented in the schedule.
The Organization elected to use the ten percent de minimis cost rate for the period from July 1, 2024, through September 30, 2024 and the fifteen percent de minimis cost rate for the period from October 1, 2024 through June 30, 2025, as allowed in the Uniform Guidance, 2 CFR 200.414