Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Urban Restoration Enhancement Corporation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from the amounts presented in the preparation of the basic financial statements.
Total Expenses: $3,006,280 + Federal Loans included in expenditures 5,271,571 - Non-federal expenditures 2,037,497 = Total Federal Expenditures $6,240,354
During the year ended June 30, 2025, the organization provided federal awards to subrecipients totaling $53,607.
Urban Restoration Enhancement Corporation has not elected to use the 10% de minimis indirect cost rate.