Notes to SEFA
The accompanying schedule of expenditures of federal awards and state financial assistance (the Schedule) includes the federal and state award activity of The Spring of Tampa Bay, Inc. under programs of the federal government and the State of Florida 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 Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Florida Chapter 10.650, Rules of the Auditor General. Because the schedule presents only a selected portion of the operations of the Spring of Tampa Bay, Inc., it is not intended to and does not present the financial position, changes in net assets or cash flow of The Spring of Tampa Bay, Inc. 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 and cost principles established by the State of Florida Department of Financial Services, wherein certain types of expenditures are not allowable or are limited as to reimbursement
The Organization has elected not to use the 10-percent de minimis indirect cost rate under the Uniform Guidance.
These federal programs and state projects are subject to financial and compliance audits by grantor agencies which, if instances of material noncompliance are found, may result in disallowed expenditures and affect the Organization’s continued participation in specific programs. The amount of expenditures which may be disallowed by the grantor agencies cannot be determined at this time, although the Organization expects such amounts, if any, to be immaterial.
The Organization did not provide any federal awards to subrecipients.
The Organization receives a portion of its support from the federal government, the State of Florida, the Board of County Commissioners of Hillsborough County and the City of Tampa under the various grant contracts. These contracts must be renegotiated annually. Although a maximum amount is established during the negotiation process, income is earned on a per unit of service or on a reimbursement basis. Compliance with matching requirements has been met as of June 30, 2025.