Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Latino Coalition for Community Leadership under programs of federal government for the year ended June 30, 2025. 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 Latino Coalition for Community Leadership, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Latino Coalition for Community Leadership.
The accompanying schedule presents the expenses incurred by Latino Coalition for Community Leadership that are reimbursable under federal programs of federal financial assistance.
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 as to reimbursement.
Latino Coalition for Community Leadership has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Organization negotiated a provisional indirect cost rate of 22.50% for the year ended June 30, 2025.