Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Lighthouse under programs of the federal government for the year ended June 30, 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). Because the Schedule presents only a selected portion of the operations of The Lighthouse, it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Lighthouse.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Pass-through entity identifying numbers are presented where available. The accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting for revenues and expenditures. The amounts reported in this schedule as expenditures may differ from certain financial reports submitted to federal funding agencies due to those reports being submitted on either cash or modified accrual basis of accounting. The Lighthouse has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Lighthouse did not provide federal awards to subrecipients for the year ended June 30, 2024.
Federal awards expenditures are reported on the statement of functional expenses as program services. In certain programs, the expenditures reported in the basic financial statements may differ from the expenditures reported in the schedule of federal expenditures due to program expenditures exceeding grant or contract budget limitations not included as federal awards. Program expenditures on the schedule of expenditures of federal awards may also differ from government revenues in the financial statements because of changes in restricted net assets resulting from unexpended revenues.