Notes to SEFA
The SEFA includes the federal grant activity of Granite United Way, 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 the OMB. Because the schedule presents only a selected portion of the operations of GUW, it is not intended to and does not represent the financial position, changes in net assets, or cash flows of Granite United Way.
The schedule is prepared on the same basis of accounting as the United Way's financial statements. Granite United Way uses the accrual basis of accounting. Expenditures represent only the federally funded portions of the program. Therefore, some amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of the basic financial statements.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs could be more than shown. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-122, Cost of Principles for Non-Profit Organizations, or the cost principles contained in Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
In accordance with OMB Uniform Guidance, major programs are determined using a risk-based approach. Programs in the accompanying Schedule are determined by the independent auditor to be major programs.
Indirect costs are calculated based on the specific indirect cost rate agreements established for each grant. Granite United Way applies varying indirect cost rates as stipulated in individual grant agreements with federal and non-federal awarding agencies. These rates, which may include negotiated rate or the de minimus rate of 10% of Modified Total Direct Costs are applied to the applicable direct cost base in accordance with each grant's terms.