Notes to SEFA
The accompanying schedule of expenditures of federal awards (“Schedule”) includes the federal award activity of I Ola Lāhui, Inc. (“Organization”) under programs of the federal government for the year ended December 31, 2024. 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”). Therefore, certain amounts presented in the Schedule may differ from amounts presented in, or used in, the preparation of the financial statements of the Organization.
Expenditures reported on the Schedule are reported on the modified cash basis of accounting. This method of accounting represents a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement. In addition, agency or pass-through numbers are presented where available.
The Organization did not elect to use the 10 percent de minimis indirect cost rate on grants as allowed under the Uniform Guidance. The Organization used an indirect cost rate consistent with what was outlined in their grant agreements.
* Denotes major program, which comprised 31% of total expenditures of federal awards.
The Organization has not passed through any federal awards to subrecipients during the year ended December 31, 2024.