Notes to SEFA
The accompanying Schedule of Federal Expenditures of Federal Awards (the schedule) includes the federal of Urban League of Greater Chattanooga for the year ended June 30, 2025. The information in this schedule is presented in accordance with the requirements of the Code of Federal Regulations, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, Title 2, Section 200 (the Uniform Guidance). Because the schedule presents only selected portions of the operations of Urban League of Greater Chattanooga it is not intended to and does not present the financial position, changes in net assets, or cash flows of Urban League of Greater Chattanooga.
Expenditures reported on the schedule are reported on the modified 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.
The Urban League of Greater Chattanooga has not elected to use the 15% de minimis indirect cost rate permitted under the Uniform Guidance (2 CFR §200.414(f)). Instead, the Organization entered into certain agreements where an approved indirect cost rate greater than 15% was applied in accordance with the terms of those agreements.
The amounts shown as expenditure represent only the federal award portion of the program costs. Entire program costs are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.