Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal awards of the Organization for the period ended June 03, 2025. The information in this 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). The Schedule presents only a selected portion of the operations of the Organization; therefore, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of the Organization.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years.
The Organization did not use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.