Notes to SEFA
Basis of Accounting The schedule of expenditures of federal awards (“SEFA”) of the Organization has been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United Stated of America. 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. Basis of Presentation The SEFA includes the federal award activity of the Organization under programs of the federal government for the year ended August 31, 2025. The information in the SEFA 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 on the Organization, it is not intended to and does not present the financial position, changes in net assets, and cash flows of the Organization. Indirect Costs The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.