Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes federal grant activity of Oxbow Center (the Center). The SEFA presents only a selected portion of the operations of the Center, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Center.
Federal program expenditures included in the accompanying SEFA are presented on the accrual basis of accounting, the same as the Center. Grant revenue is recognized when services are performed. Revenue is deferred for grants that are advanced before service if performed. The information in the SEFA is presented in accordance with requirements of Title 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
The Center has not elected to utilize the 10 percent de minimis indirect cost rate.
The Center did not pass any portion of federal awards to subrecipients.