Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of PFLC under programs of the federal government for the year ended June 30, 2024. The information in this schedule is presented in accordance
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
PFLC has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.