Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of Lanakila Pacific and is presented on the accrual basis of accounting. The information in the 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). Therefore, certain amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations of Lanakila Pacific, it is not intended to and does not present the consolidated financial position, changes in net assets, or cash flows of Lanakila Pacific. * Denotes major program.
The 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. In addition, pass-through entity identifying numbers are presented where available.
Lanakila Pacific has not elected to use the de minimis indirect cost rate as allowed under the Uniform Guidance.