Notes to SEFA
The accompanying Schedule of Federal Awards (the "Schedule") includes the federal activity of Four-Square Community Action, Incorporated under programs of the federal government for the year ended June 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). Because the Schedule presents only a selected portion of operations of the Organization, it is not intended to and does not present the financial position, changes in net assets or cash flows of the Organization.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. The Organization has elected not to use the 10 percent de minimus indirect cost rate, as allowed under the Uniform Guidance.
The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Instead, the Organization uses 19.12-percent indirect cost rate for all federal awards.
There were no sub-recipients during the year ended June 30, 2024.