Notes to SEFA
(a) Basis of Presentation The accompanying schedule of expenditures of federal awards (“Schedule”) is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). 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. (b) Basis of Accounting Expenditures reported on the Schedule are reported on the accrual basis of accounting which is the same basis of accounting as the financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Expenditures reported on the Schedule represent only the federal grant portion of the program costs. Entire program costs, including the Organization’s portion, may be more than shown. Organization records should be consulted to determine amounts expended or matched from non-federal sources.
The Organization has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Program cost is based on direct cost of expenses specifically associated with the programs.