Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Lighthouse Therapeutic Foster Care, Inc. under programs of the 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 the Lighthouse Therapeutic Foster Care, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Lighthouse Therapeutic Foster Care, Inc.
The schedule of expenditures of federal awards is prepared on the same basis of accounting as Lighthouse Therapeutic Foster Care, Inc.’s financial statements. Lighthouse Therapeutic Foster Care, Inc. uses the accrual basis of accounting. Expenditures represent only the federally funded portions of the program. Lighthouse Therapeutic Foster Care, Inc.’s records should be consulted to determine amounts expended or matched from non-federal sources. 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.
Lighthouse Therapeutic Foster Care, Inc. has elected not to use the ten-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Lighthouse Therapeutic Foster Care, Inc. has not provided any federal awards to subrecipients.