Notes to SEFA
The accompanying Schedule of Expenditure of Federal Awards presents the activities in all the federal programs of St. Mark’s (UMC) Family Services Council, Inc. All Federal Awards received directly from federal agencies as well as Federal Awards passed through other governmental agencies or nonprofit organizations are included on the schedules.
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 funding agencies due to those reports being submitted on either a cash or modified cash basis of accounting.
Federal program expenditures are reported in the statements of functional expenses as program expenses. 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 due to capitalization of assets, organizations matching or in-kind contributions.