Notes to SEFA
The accompanying schedule of expenditures of federal and state awards (the “Schedule”) includes the federal and state grant activity of Coastal Horizons Center, Inc. (the “Center”). The information in the 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) and the North Carolina State Single Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of the Center, it is not intended to and does not present the financial position and statements of operations and changes in net assets or cash flows of the Center.
Expenditures reported in the accompanying Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and North Carolina State Single Audit Implementation Act, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
The Center has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance and North Carolina State Single Audit Implementation Act.
The categorization of expenditures by program included in the Schedule is based upon the grant documents. Changes in the categorization of expenditures occur based upon revisions to the Assistance Listing, which is issued in June and December of each year. The Schedule for the year ended June 30, 2025 reflects Assistance Listing changes issued through November 2025.