Notes to SEFA
The schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Bike Walk KC and Affiliate (the Organization) under programs of the federal government for the year ended December 31, 2024. The information in this 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). Because the schedule presents only a selected portion of the operations of the Association, it is not intended to and does not present the financial positions, changes in net assets or cash flows of the Association.
Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Grantor and regulatory agencies reserve the right to conduct additional audits of the Association’s grant programs. Such audits may result in disallowed costs to the Association. However, management does not believe that such audits would result in any disallowed costs that would be material to the Organization’s financial position at December 31, 2024.
For the year ended December 31, 2024, costs requested for reimbursement have been limited to direct reimbursement of costs and allowable indirect costs. No diminimus rate was used in the current period.