Notes to SEFA
The accompanying Schedules of Expenditures of Federal Awards, Other State Funding and Local Financial Assistance (the “Schedules”) includes the federal awards, other state and local funding activity of New Horizons of the Treasure Coast, Inc. (the “Organization”) for the year ended June 30, 2025. The information in the Schedule of Expenditures of Federal Awards is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedules present only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Expenditures reported on the Schedules 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 as to reimbursement.
The Organization did not elect to use the de minimis indirect cost rate allowed under the Uniform Guidance.