Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Human Resources Agency of New Britain, Inc. (the Agency) under programs of the federal government for the year ended June 30, 2025. 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). Because the Schedule presents only a selected portion of the operations of the Agency, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Agency.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. For cost reimbursement awards, such ependitures ae recognized following the cost priniciples contained in the Uniform Guidance, wherein certain types of exenditures are ot allowable or are limited as to reimbursement. For performance-based awards, expenditures reported represent amounts earned.
The Agency has elected not to use the 10-15% de minimis indirect cost rate allowed under the Uniform Guidance.