Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of LiveSafe Resources, Inc. and is presented on the accrual basis of accounting. 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. Some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
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 Organization has elected not to use the 15% de minimis cost rate as allowed under the Uniform Guidance.
The Organization provided no federal awards to subrecipients during the year ended June 30, 2025.