Notes to SEFA
The accompanying schedule of expenditures of federal awards presents the activities in all of the federal awards of the Center. All federal awards received directly from federal agencies as well as awards passed through other governmental agencies or not-for-profit organizations are included on this schedule. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 22, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). 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 accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal, state or city funding agencies due to those reports being submitted on either a cash or modified accrual basis of accounting.
Federal awards expenditures are reported on the statement of activities. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of expenditures of federal awards because not all expenditures are required to be reported on the schedule of expenditures of federal awards.
The Center has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.