Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of New Economics for Women (NEW) 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 (CFR) 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 NEW, it is not intended to and does not present the financial position, changes in net assets, or cash flows of NEW. The 2024 schedule of federal awards does not include direct and indirect federal awards funded directly to NEW's consolidated for-profit subsidiaries.
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.
NEW has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The following list includes sub-recipients and expenditure amounts per Federal Assistance Listing ("FAL") Number as of June 30, 2024:
New Economics for Women and Affiliates has received direct loans under the NSP2 and CDBG Loans program. The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. The balance of the loans outstanding as of June 30, 2024, are $14,034,375