Notes to SEFA
The Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Jewish Vocational and Career Counseling Service (JVS) under programs of the federal government for the year ended June 30, 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 Guidance Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of JVS, it is not intended to and does not present the financial position, changes in net assets or cash flows of JVS.
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.
JVS has elected not to use the 10% de minimis indirect cost rate. JVS applies indirect costs in accorance with specific terms of its award agreements.