Notes to SEFA
The accompanying schedules of expenditures of federal awards and state financial assistance projects (the Schedule) include the federal awards and state financial assistance activity of Boys & Girls Clubs of Palm Beach County, Inc. and affiliates (the Organization) under programs of the federal government and State of Florida for the year ended September 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) and Chapter 10.650, Rules of the Florida Auditor General. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to, and does not, present the consolidated financial position, changes in net assets, or cash flows of the Organization.
The Organization has elected not to use the 15 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The reimbursement of indirect costs reflected in the accompanying consolidated financial statements as federal grant and state revenue is subject to final approval by federal and state grantor agencies and could be adjusted upon the results of these reviews. Management believes that the results of any such adjustment will not be material to the Organization’s consolidated financial position or changes in net assets.
The grant revenue amounts received, or receivable are subject to audit and adjustment. If any expenditure is disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement by the grantor agency would become a liability to the Organization. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements, and applicable federal and state laws and regulations.